The China trade has corrected 40% from the highs set last November. I think enough is enough. FXI is now bouncing off an uptrend line that has been in place for over 2 years.
BULLISH ACTION:
Closed above 50DMA, let's see if it can hold.
Closed above downtrend line.
The 2 year trendline held.
GAMEPLAN:
Start to "nibble" on a LONG position. Add to the position if it can make a higher pivot high (close above $155). Stop out below $120 (new lows).
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