FXI Peaks: Thank You, China - Time to Book Profits

FXI - thank you for playing

Chinese equities have surged lately, outperforming pretty much all global equity indexes. Earlier this year we outlined our long China logic and the preferred way to play it via upside options in FXI and KWEB. The contrarian long logic isn't contrarian anymore, and given the fact FXI and related indexes are hitting resistance levels, we are going to say thank you to the China long and move on. There will probably be better entry points....Chart shows FXI well above the 200 day, but close to big resistance levels.