China’s Shanghai Composite Index will probably bottom out within days and begin to rebound, said Tom DeMark, the developer of market-timing indicators who predicted the measure’s rally from a four-year low in June.
The gauge may slip to as low as 1,952, or 4.4 percent below yesterday’s close, and then rally “sharply,” DeMark wrote in an e-mailed response to questions from Bloomberg News. The Shanghai Composite, which touched an intraday low of 1,984.82 on Jan. 20, lost 3.5 percent this year through yesterday.
