DeMark Says Sell China Stocks Now After World’s Best Gain
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The Shanghai Composite Index will probably end its world-beating rally within days and fall about 10 percent, said Tom DeMark, the developer of market-timing indicators who predicted the gauge’s peak last year.
China’s benchmark equity index, which surged 9.9 percent from June 19 through yesterday’s close of 2,223.33, is poised to erase those gains and drop below this year’s intraday low of 1,974.38, DeMark wrote in an e-mailed response to questions from Bloomberg News. He said the losses may occur over about six months.