03-16-2014, 08:12 AM
Data out of China on Thursday showed weaker-than-expected growth for that country's output and sales. And, as it now stands, the Chinese stock market is at multiyear lows. One legendary technical analyst believes it's about to get worse for Chinese equities. Louise Yamada, managing director Louise Yamada Technical Research, says the Shanghai Composite Index is close to a breakdown. It's already off by 5% this year and is 33% lower than it was four years ago.
This chart says it's about to get worse for China: Yamada | Talking Numbers - Yahoo Finance