I'm expecting some sort of rate cut or QE from China over the weekend.
That is true, reason is there economy is slowing, GDP is about 7% and the world is used to double digit GDP from china so with a GDP of around 7% things are certainly slowing in china especially since no one is moving into those ghost cities and buying anything from the ghost malls yet they keep building and building to keep that GDP floating higher, because once china slows the whole world slows, don't believe anyone thats says thats not true, once china does slow thats pretty much it, the world economies are going to sink very fast...