Shanghai's SSEC: Temporary Top Confirmed!

Shanghai's SSEC Index dropped today, unable to climb back up above the violated accelerated uptrend line, S2-S2. See Chart 1 & 2.


Chart 1: SSEC's daily chart as at Jun 25, 2015 (Source: Stockcharts)


Chart 2: SSEC's daily chart as at Jun 25, 2015 (Source: Stockcharts)

From the intraday chart as at 2.06pm, we can see that SSEC Index is now trading below its low as at June 23 (Tuesday). This means that SSEC Index is now breaking below the S1-S1 line. Please refer back to the above 2 charts.


Chart 3: SSEC's intraday chart as at Jun 26, 2015 (Source: Yahoo Finance)

From the above study, I think SSEC Index -barring a sudden recovery to stay above the S1-S1 uptrend line- is set up for further downside move. The temporary top (for now) is baked into the chart.