After the 5.8% drubbing the Shanghai Composite saw on Monday, yesterday's 1.4% bounce gave investors a chance to take a breath. Yet, China saw major selling again last night dropping another 4.3% brining the index 20% off its highs. US markets are likely to continue following this market lower. Traders should wait for capitulation in the selling on the Shanghai before committing capital to equities here in the US.
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