Possible Retracement for Shanghai Index

If anyone is looking to invest in China related stocks, I suggest that waiting for Shanghai to complete its retracement first.  Lets look at the weekly chart of Shanghai index.  I am assuming that today's closing of Shanghai to be lower than today's open.

Shanghai is likely to form a bearish weekly candle today.  This may signal a short term retracement. From the chart, it is clear that the long term trend is still down.  Shanghai needs to break above 2330 convincingly, to assure me that the trend may be changing.  Even then, the uptrend may not take place immediately.  The most likely scenario is for it to establish a trading range first, before breaking above 2656 to start its uptrend.
How does this affect me?  I will wait for it to complete its retracement, or break above 2330 before investing in China related Singapore stocks.