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While the media seems focused on the “Fiscal Cliff,” are investors getting distracted from a “Fiscally Strong performance” taking place in a ETF from China?
China ETF (FXI) hit the bottom of the flag pattern above and has rallied off of support for the past few months. No “Fiscal Whiff” has taken place of late in FXI as it has reflected a ton of relative strength in the past 90 days, outperforming SPY by more than 15%.
5 days ago the Power of the Pattern reflected an upside breakout could be good for FXI, GXC and investors (see post here)
Even though the Fiscal Cliff may be of concern, couldn’t the China ETF moving higher be sending a positive message about China’s economy and maybe global growth prospects?