DeMark Sees Rally as Shanghai Bottoms: China Overnight

The Shanghai Composite Index will jump about 12 percent in coming months as its June slump exhausts sellers, said Tom DeMark, the creator of indicators to show turning points in securities.

The benchmark index for Chinese equities will climb to 2,323 after producing a buy signal June 21 on the Combo chart, designed to identify market tops and bottoms, said DeMark, who has spent more than 40 years developing market-timing indicators. The Shanghai index fell 9.9 percent in June through last week, poised for the worst month since August 2009, while the Bloomberg China-US Equity Index of the most-traded Chinese stocks in the U.S. lost 6.5 percent.

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