$FXI / $SPX | You Should Be Tracking ThisWe've been full bull China since early spring of this year and this chart here represents our macro thesis. We've posted about AMEX:FXI before and it's potential swing move of 75-100%...
This chart here is AMEX:FXI vs SP:SPX on macro HTF. We believe this chart represents a macro bottom of china relative US equities.
Last night, China announced a 50 bps rate cut with plans for additional rates cuts in the near future, as well as lowering existing mortgage rates. We've been expecting some govt influence and we finally got it.
HUGE move printing and we think it's just the beginning. We've been big on NYSE:BABA and OTC:PNGAY all year and they've been two of the big winners today.
Currently printing a macro 3M RSI bottom and looking to confirm it after q4 candle print.
This is a move that will likely take the rest of the decade to fully play out.
