In overnight trading, the Shanghai Composite Index (SHCOMP) climbed 3.1%, propelling the price structure due North, and further away from the breakout plateau (2440/70) of its three-year base pattern.
The Shanghai Composite points next to a test of key resistance at a big-figure level of 3,000.
Meanwhile, let's also notice that the cash SPX has challenged its major upper-boundary line of its three-year bullish channel.
So far, the upper-channel line has impeded the upside progress of the SPX.
Since Nov 24th, the Shanghai Composite is UP 11.1%, while the SPX is down 0.5%, which accentuates what we have been discussing for months: INCREASINGLY, MONEY SHOULD BE EXITING THE SPX FOR TECHNICALLY-GREENER PASTURES IN CHINA.