Tag Archives for " FXI "

0 China Breakdown Continues

China closed its exchanges twice last week when the drops hit 7%. The Shanghai Composite Index (SSEC) is down 15% in 9 trading days this year alone. It is down 41.8% from its June 12, 2015 high…7 months!

Yes it did bounce today. But one day does not a bottom make. Look at the bounces on January 5th and 6th. Look at the bounces in the decline during June to July.

Intra-day today the SSEC approached the August lows but did not break through it. Do I think it will hold?  I doubt it. The China Large Cap ETF (FXI) did not hold its August lows. The China breakdown continues. See the chart below. Continue reading

0 Elliott Wave Count…Buckle Up

The stock market closed out one of it’s best months in a long time with the S&P 500 (SPX) up 8.3%.  Bulls are licking their chops. But after the very violent move down August and again in late September, a strong snap-back rally fits the Elliott Wave count perfectly.

There are several dynamics at work right now and I talk about all these in today’s Weekend Market Analysis video. In addition to the daily charts we look at the weekly and monthly charts today. According to my Elliott Wave count, it is time to fasten your seat belts. Continue reading