Chinese Stock Market, The Big Picture of Turbulent Waves
　　
　　Long-term, intermediate-term, & short-term analysis of the Shanghai Stock Exchange Composite Index
　　
　　The Chinese stock market is not in a vacuum of its own. It is exposedto the environment with a growing risk of inflation in China and agrowing risk of recession in the United States, which could be twomajor fundamental precursors for potential worldwide stagflation. Onemay think that the Chinese market is still bullish for a long term andju你好earish for a short term. On the contrary, the charts here with aspectrum of timeframes suggest that the Shanghai Index currently is ina significant downtrend with a long-term bearish perspective, but itmay have a potential counter-trend rally with a short-term bulli你好ias. Up-and-down is the nature of the stock markets; there are alway你好umps on the way to either direction. This is a very volatile market.Careful evaluation of investment/trading projections and portfolioexposures within proper timeframes or time horizons could be critical.
　　
　　（意译，下同）上证指数的长期、中期与短期波浪分析
　　
　　中国股票市场并非存在于真空之中，它面临着日见增长的国内通胀与美国经济衰退的风险，而这可能是全球范围内经济滞涨的两大主要前导因素。或许人们可以认为A股市场仍然处于长牛短熊之中，但恰恰相反，时间框架内的图谱显示，上证指数正处于明显的下行趋势和熊市前景之中，虽然它具有潜在的逆势反弹与短期牛市倾向。涨跌是市场的常态，总有逆向的波动存在于大趋势之中。这是一个动荡不定的市场，在一个恰当的时间周期之内，对投资标的、投资组合进行审慎估值，是至关重要的。
Chart 1. Long-term picture (monthly chart), comparison with historic world-class stock market bubbles
　　图一，长周期，上证月K线图与其他世界级的股票市场泡沫的比较
　　
　　Chart 2. Intermediate-term picture (weekly chart), a potential BARR pattern
　　中周期周K线图，BARR模式
　　Chart 3. Intermediate-term picture (daily chart), a potential head-and-shoulders Pattern
　　中周期日线图，头肩顶模式
　　
　　Chart 4. Short-term picture (daily chart), a potential CCI reversal pattern
　　短周期日线图，CCI转向指标
　　Chart 5. Short-term picture (daily chart), daily volatility
　　短周期日线图，日波动比率

thanks for sharing:)