![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtOizpN5JG0GbTOr6WJQLcaGsrgTqM7QwGeUl-ABBzJmbficT-V7d6E4kaoE7b5GD55zgrcFjmkWhv41zFxxj0iWlqqOQ3V-ktNWZmMXmzxZap6YtY3Ne7rVw2CthhjxWxrjUNDQ/s400/100507+shanghai+composite.png)
As you can see the index is within a 100 points or so of my 5650 target. I think the next significant development will be a break of 800-900 points, about the same amount (arithmetically) as the last significant reaction. I should note that at about the 5800 level the market will have advanced the same percentage as the February-May rally. This is another reason to expect a stall in the 5600-5800 range.
After this next break is over I shall expect another leg up of about the same percentage as the current leg (70-75%). Such a move would put the index above the 8000 level.
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