[FXI] update

In the backlink my model suggested it was time to Short FXI again.  By "again" one would be led to believe that I at some point recommended people to cover their shorts and this post is proof that I in fact did.  In any case, the chart broke down the top rail and then broke back out but could not hold it.  So maybe it does one more attempt to break out but this time the top rail holds completely and if that happens then the herd will know that it is useless to fight the ticker and wave C down should unfold.

Note that if Chinese stocks are tumbling into a C wave that commodities could also be under pressure.  Since China manufactures so many things, many think China=commodities.

Unless and until FXI can break back out that top rail, I would be a buyer of FXP on the dip of its chart.