China’s market looks like the Dow in 1929: Top technician

Stock Market Collapse - Public Domain

China’s stock market has been nothing short of a roller-coaster ride this year.

The Shanghai composite rallied more than 60 percent from January to its mid-June high, then took a sharp turn lower, losing more than 23 percent of its value in the past 30 trading sessions. Since hitting a low of 3,507 last week, the index has bounced 13 percent. And while that volatility has some investors drawing parallels to the Nasdaq collapse in 2000, one top technician says the better analogy might be the Dow in 1929.

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