Playing the Ponzi's  Instablog

Playing the Ponzi
Send Message
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
My blog:
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
Back To Playing the Ponzi's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.