The stock market is embarking on a fresh leg higher, and it’s happening with the broadest level of participation we’ve seen this cycle.
Small caps are finally joining the rally, speculative growth is on fire, Bitcoin is launching to new all-time highs… It's all working.
And even one of the riskiest groups of stocks is getting started.
Here’s the iShares China Large-Cap ETF $FXI, on the cusp of completing a bearish-to-bullish reversal pattern.
FXI has been in the base-building process for over two years.
Price is currently challenging the upper bounds of this base following a false start a few weeks ago.
Momentum is in a bullish regime as the daily RSI-14 hasn't reached oversold conditions this year, and the 200-day moving average is starting to curl higher, indicating a fresh trend reversal.
All this is evidence that the path of least resistance is now higher for Chinese equities.
As long as FXI is above 34, I’m a buyer of China.
And speaking of risk assets, JC will be live on a special event to talk about crypto’s next leg higher. If you are interested in participating, click here to reserve your spot.
