The iShares MSCI China ETF has not only broken out of its downtrend in absolute terms, it is also showing relative strength vs. the All Country World Index.
Looks like China versus the emerging markets is making another come back! First it was 2013, then again it was about 2016 then is based out and rallied in 2017. Now, here we are again at the same old trendline at the end of 2018 and beginning of 2019. The Shanghai Index is also at an all time, weekly/monthly support level.
Could something about China be...
Same chart could be drawn for almost every sector right now. A few possibilities - a quick crash, a quick reversal, slow descent, small bounce then descent. No buy back signal on the weekly yet.
MCHI tracks the big China blue chips
China and Japan possibly oversold from the last week of selloffs.
N225 and HSI
Now that the DJI, IXIC and SPX have found a bottom (hopefully) expect Asia to bounce.
Got in at 70, looking to sell over the week at 76-78
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MCHI
