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Shanghai Composite: Breakout Fails

Refer to last post on SSEC. A breakout above 2950, implied a target of 3180 after a brief back-test. However, the back-test failed (perhaps in sympathy with the extraordinary & unfortunate situation unleashed by mother nature in neighbouring Japan), and the short-term outlook is back to neutral. Supports are at 2850, then 2800. A break back above 2950 on good volume will give strength the bullish case.