The China Stock Market Update: Correction Beginning?

The recent technical action in the FXI (FTSE/Xinhua China 25) ETF suggests that a downward correction in the China equity market may have begun:

Given that the rebound in the China market started approximately the same time that rebounds began in other global markets (including the U.S.), this could be a prelude to broader corrections encompassing other markets around the world. Stay tuned..................