China:
The Shanghai Index has traded between 2500 and 2560 for 7 days, with decreasing volumes. However the volume rose when market broke below 2500 on 22 April. Today, 5 Day moving average crossed down 10 Day moving average. Almost all leading stocks show a sign of top formation. It is very likely that the market has reached the short term top, and we have finished the major first wave up since 1664.
Europe:
German, France, UK are still trading within a rising channel. But all are approaching a very important resistance.
US:
Markets have traded down the triangle shape, but seems trading in a new pattern of a shower slope.
In terms of time window, today and tomorrow are key days. Watch out!
Strategy: realise your profit, and be prepared to short.
More analysis below through the links:
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