China, India & Germany - Quick Note

China (FXI) is at the top of a descending channel. It had a few bullish days and it looks like it want to break out of the channel. RSI is above 50 reflecting the recent bullishness, however MACD is still below 0 telling us that it may not have the momentum it needs for a breakout of the channel yet. Meanwhile, the cycle bracket begins descending into late August. Bottom line, watch for a possible breakout, but don’t be surprised if it rotates back to the lower channel line one last time.

The Premium Section will cover India (INDA) and Germany (EWG) with both presenting attractive “long” opportunities.