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Thursday, December 16, 2021

Market Update 12/16/21 - Taking a closer look at Chinese stocks

 We saw China down again yesterday, as the $FXI washed out to a fresh new - yearly - low, so I decided to take a closer look at the charts.  

I've revised the EW count to wave 5, of C, and that would conclude a year long bear market. Previously I thought it may continue to consolidate in wave 4, but it looks like that concluded, back in Oct. 

This presents the best trading opportunity we've seen since the covid crash. 

I don't want you to miss it, so I've added the chart to the public charts area, and the 3X bull $YINN is in play.  

$FXI (China) - wave 4 conclused in Oct, in an expanding triangle pattern. Now we see wave 5 finish a - sub divided - 5 wave move. This chart has already been added to the public charts area. 

Funny, the Heng Seng is not making new recent lows, while chinese stocks trading in US markets are,,,? I'd say the talk of Chinese stocks being delisted is being put out there by the short sellers; It's propaganda.   

Meanwhile Goldman, and JP Morgan are seeing things my way! 

Wall Street Gets Increasingly Bullish on China as Goldman strategists join JPMorgan in bullish call on China


Good Luck, and Happy (early) New Year China, 


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