Could a Shanghai Equity Market Parabolic Impact the SPX? We Might Soon Find Out!

After climb 70% from its Feb low at 3049 to last week's high at 5177, the Shanghai Composite (SHCOMP) has plunged 13.5% in what looks like a parabolic rollover that is destined to press directly into the vicinity of the up-sloping 200-Day EMA, now at 3577.

It remains to be seen if such a dramatic decline in Shanghai negatively impacts the SPX.