The current snapshot below shows that the first confirmation of breakdown has occurred. If I'm right about this then the C wave is about to unfold. It should be powerful to say the least. Chinese president Xi believes that by going after a few individuals in a public way that he has stemmed the selling but the confidence brought on by those actions will soon likely turn to despair by Chinese investors / gamblers. Importantly, the Chinese government stands to lose face here because Xi stupidly said the market was bottoming. He should have said that markets go up and they go down and it is not government's job to intervene. He should have characterized the whole thing as gambling. Had he done that, the people would have confidence in him now because he told the truth. As is, all he did was set himself up for a fall. The historical con man politician playbook says its time to start a war before the people drag Xi into the streets for lying to them. A lot of people are going to lose a lot of wealth in China over the next year according to my models.
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