New China correction, testing the bottom this week

INDEX:XGY0   Shanghai Class A Index
135 0 2
The Shanghai stock index has hit a barrier in the bounce and can go down following the S&P 500             trend of the last days, as the stochastic indicator shows.

China's government would have to do a lot to stop this trend. Let's see.

Global Share Slump Continues in Asia as Commodities Extend Drop
Manufacturing in China unexpectedly declined in July to a 15-month low.

Entry: 4265 (better 4300)
1. Target: 3960
2. Target: 3725

UPDATE: 4 hours after I posted this chart. Bloomberg news:

China Stocks Sink Most Since 2007 as State-Induced Calm Shatters

China’s stocks tumbled, with the benchmark index heading for its biggest loss since June 2007.

UPDATE, 2 days later:

Target hit, dead on:

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