"In the past few years I’ve often noted the tendency of China’s Shanghai composite to lead the US equity market. It led us down from 2007, bottomed before the S&P in 2008, topped in late 2009, signaled a death cross signal several months before the S&P signaled the same indicator (which subsequently sent the bears on a rampage), deteriorated noticeably in April (while US stocks were hitting their highs) and has since bottomed in July. The index has rallied 14% off its lows and at this juncture is providing a pretty bullish indication for US stocks."
in The Prag Cap
Related ETFs: iShares FTSE/Xinhua China 25 Index (ETF) (FXI), SPDR S&P 500 ETF (SPY), PowerShares Gld Drg Haltr USX China(ETF) (PGJ)
1 comment:
Hi Peter, I've enjoyed your appearances on fast money. Your composure in lieu of melissa's rude fill- in this week (the Brit) was noted. Thanks for your insights!
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