Sorry, I couldn’t resist the headline. D for Dragon.
The Templeton Dragon fund, my preferred actively managed way to be long China/Asia, is declining within the would-be Handle of the 2nd Cup (black). It is actually the first Cup that I would consider notable because its Handle is forming after making a higher high.
I am pared down on longs, but I held this one due to the chart. Below 23 would hurt the bull case. Otherwise I’ll watch the MA 50 to see what goes on around there.
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