Looks like the Shanghai Composite is in position to breakout in the future like the S&P 500 broke out recently. Big earnings beats from BABA, BIDU, WYNN are also positive for a potential breakout in Chinese stocks. Look to go long in Chinese stocks, FXI, BIDU, BABA, WYNN from now till end of year.
Commentaire:
Historic negative correlation to USDCNY meaning if potential phase I trade deal were to get signed USDCNY will trend downwards as SHCOMP will potentially breakout.