What goes up, must come down. And since these parabolic moves like to come down in a mirror image we can presume that there is more to go.And for you technical analysis propeller-heads, check out weekly stochastics. A 50-line is drawn instead of traditional overbought/oversold lines and we can see that in bull markets the indicator stays above it. In bears, it stays below. It's below now.
You know, India is kind of similar on the charts. Weren't these two supposed to be driving the global economy and demand for commodities? Me smells a fishy theory.
2 comments:
Michael, do you or any of your readers, have any ideas why the SSEC & the FXI (ETF) charts often look so vastly different ?? I realize that they are composed differently; but they're both supposed to reflect the stock market in China.
Thank you,
dave
The FXI tracks stocks more closely related to Hong Kong so its name - FTSE/Xinhua China 25 Index ETF - is a bit of a misnomer. Put of an overlay of FXI and the EWH Hong Kong ETF and see for yourself.
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