Shanghai Composite is Beating the S&P 500
By Chris Kimble of Kimble Charting Solutions
October 12, 2012
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The Shanghai Composite recently hit a six-year support line and two other support lines at (1) in the chart below. This index has now bounced off of support and has broken out of its falling channel resistance line at (2).
Over the past 30 days the China ETF (FXI) is reflecting a ton of relative strength, as FXI has outperformed the 500 index by 7% in 30 days!
Without a doubt, the world could sure use -- and definitely needs -- some positive growth signs to come from China!
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