DeMark Says Shanghai Index to Jump as Economy Strengthens

The Shanghai Composite Index is poised to extend gains as investors anticipate the Chinese economy will keep strengthening, said Tom DeMark, the developer of market-timing indicators who predicted the gauge’s rally from a four-year low in June.

A correction this week is possible before the benchmark index of Chinese equities continues to rise to a level “much higher” than his last call of 2,323, said DeMark, whose technical analysis is designed to identify market supply-and-demand imbalances for trading opportunities. The Shanghai index had rebounded 15 percent from a low reached June 27 through Sept. 13, surging 6.6 percent in the past two weeks, the most since December. The Shanghai Index slipped 0.2 percent to 2,231.40 at the close today.
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