The China Meltdown: Reading the Charts

S&P's Mark Arbeter sees more trouble ahead for Chinese stocks, but thinks the U.S. market will recoverand move higher

For Mark Arbeter, an expert reader of movements in stock and index price charts, sentiment, and other nuts-and-bolts technical indicators, a day of reckoning came on Feb. 27 when China's stock market skidded 9%. "I've been waiting months for this," said Standard & Poor's chief technical strategist as he peered over his computer screens in his downtown New York office.

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