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Shanghai Index (SSE) and China ETF (FXI) continue to push above their two year falling resistance lines in the above chart at (1). Both reflected relative strength “last week” and over the past month compared to the S&P 500 index (see relative strength post here)
Premium members bought FXI on its support line around a month ago and are protecting gains with a trailing stop. This break above falling resistance is a positive at this time for China and FXI and could be sending some positive clues about the economy there!
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