| China Weekly Chart |
It's almost amazing to look at the run up & proceeding crash in major Chinese large cap equities ($FXI) from April 2014 - February 2016. That is why the price action in the $FXI has my attention again. There is still tremendous upside potential in the Chinese economy & markets alike.
The FXI looks to have formed a lower high in early June, & has recently regained it's 50 Week Moving Average. Additionally the 10 Week & 50 Week are about to make a bullish cross. We have been grinding sideways for a few weeks to diminish the overbought conditions from the recent rise. If we get a close above $34.84 today, which seems almost like a given, I'll be putting on a full position at the market close. I will use the 50 Week Moving Average as my stop. Good luck & God Bless!
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