- WallStreetWindow
- Posts
- The Chinese Stock Market Has Just Launched A New Bull Market And New Commodity Run
The Chinese Stock Market Has Just Launched A New Bull Market And New Commodity Run
Michael Swanson
September 27, 2024
In partnership with
Become A Better Trader And More Informed Investor
This week a new bull market started in the Chinese stock market.
What you are looking at is the FXI ETF, which is the most popular ETF to use to invest in China.
It’s lows of 2022 and 2024 were a double bottom, and the Chinese stock market has basically spent two years in a stage one basing phase.
It finally surged higher this week to smash through its long-term $30 resistance level and close above its upper 200-day Bollinger Band.
The Chinese central bank did what was the equivalent of interest rate cuts this week, injecting lots of liquidity into the Chinese financial markets, but the stock market there is going up like this because this move is starting from a low CAPE ratio and a drawn out stage one basing phase.