The Shanghai Composite Index (SSEC) dropped over 5% today as a another leg down appears to be starting. China is cracking down on some brokerages and this was given as the cause for the break but the press always looks for some kind of justification.
The SSEC has been in rally mode since the low on August 26th. It now appears to have broken that uptrend. Today’s move is the largest down day since August 25th. Next potential support in the 3265 – 3302 range.