We’re are watching to see if the Shanghai Composite can hold its 200-day moving average right around 2,800.  There is widespread speculation the People’s Bank of China will raise interest rates this weekend for the second time in the tightening cycle.  We are also watching commodities,  mainly crude and copper, to see how they hold up.  We suspect with global growth kicking in x/China, the negative impact of the rate hike may be muted.  A significant sell-off in Chinese equities is another story.    Keep it on your radar!