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Playing the Ponzi
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Why “Playing the Ponzi”? I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is created as debt, and running straight through a global economic model that is based on infinite growth in a finite world. This won’t end well. I’d go a step... More
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Playing the Ponzi
  • FXI Facing 5-Year Old Resistance 0 comments
    Nov 6, 2012 11:24 AM | about stocks: FXI

    China (using FXI as my proxy) has rallied strongly in the last month, outperforming the S&P. But FXI is currently facing trendline resistance that is 5 years old.

    (click to enlarge)

    Here is a closer look at the last two years. It's worth noting that this most recent rally has coincided with a declining ChaikinMoneyFlow, creating a bearish divergence.

    (click to enlarge)

    With the S&P rallying back to the underside of its 50 day moving average and potential resistance there, it'll be interesting to see where we go from here.

    Disclosure: I have no positions in any stocks mentioned, but may initiate a short position in FXI over the next 72 hours.

    Stocks: FXI
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