Further yuan devaluation? and as usual the Market!

Posted: August 26, 2015 in Uncategorized

On bloomberg there was an interesting article in which it said that some Chinese agencies were starting to use Yuan to US at 7 by end 2015 and even 8 and 9 (currently 6.4) by end 2016.

I  think 8-9  is just a test to see what could happen, but 7 is possible (another 8% from here) and I saw other commentaries in similar pattern.

The high intensity crash has done its damage. The low of the SP500 has been 1,867.

Now should appear a low intensity crash zig- zagging but with a final target 1,840-1,820 (potentially even 1,800 on panic).

Anyway due to the technical carnage the market will need 4 to 6 weeks to regain confidence,

By the end of year this should be just a scare!

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