If Obama wins the election tomorrow, there is a good chance that the Asian markets, and certainly the European markets will rally tomorrow night. Good for a trade. Luck to all.
If you think that McCain will win do the opposite. Buy FXP.
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FXI here
If Obama wins the election tomorrow, there is a good chance that the Asian markets, and certainly the European markets will rally tomorrow night. Good for a trade. Luck to all.
If you think that McCain will win do the opposite. Buy FXP.
I'm still holding my FXP shares (refer to my FXP thread).
FXP held pretty well today with some strong support, it'll be interesting to see what happens tonight.
It appears as though the FTSE China 25 ETF has been conforming to technicals by gapping and running higher after it breaks intermediate-term trendlines. With domestic markets forming topping patterns this China ETF is bucking the trend. Anyone see something more to this than a bear market rally?
FXI still looking decent short term but there is near-term warning signs such as negative divergence in momentum near a potential resistance level. Also, I find it noteworthy that Chinese equities are doing well while copper prices are in the shitter. The long-run correlation (200 days) is over 80%. Might copper be telling a cautionary tale here?
