timwest

Alcoa vs China (FXI)

BATS:AA   Alcoa Corporation
741 views
2
This picture is worth a thousand words. It basically shows me that Alcoa's chart has been the rough equivalent to China's stock market, but with the added price volatility it is a leveraged play on FXI .

This is simply "interesting" and thought you all would enjoy seeing this chart.

By: Technical Tim, Monday, April 2, 2012 4:22PM EST
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com

Comments

Almost exactly on top of each other for six months.
Reply
timwest timwest
If you overlay Feb 2012 until Oct 2, 2012 you will see how closely these are paired.
Reply
Agreed.
Reply
Very interesting to see how it is going.
Reply
Yea its interesting how it follows it, is it breaking out yet?
Reply
These two continue to move along the same. This simply means to me that the world sees China as the only driving force for commodity demand. It also means that the Chinese market is overly driven by pure commodity plays.
Reply
Very cool chart Tim. I guess it's not surprising when you consider our current market environment seems in the every present "binary" state of either being risk-on or risk-off. Alcoa (commodities) risk-on with China (emerging markets) risk-on. A great way to visualize market sentiment.
Reply
timwest mrd2015
Thanks mrd2015. I love to look for correlations, leads and lags, group rotation, sentiment and so much more. Thanks for your comments.
Reply