The Rising Influence of Rising Affluence

[wow_happens28]

I agree markets lead the economy. PGJ is at an inflection point. I wish i was more computer savvy, but connect the tops of the 2012 rallies and it drops to right here. if it breaks out, China looks good, if not, who knows.

http://stockcharts.com/h-sc/ui?s=PGJ&p=D&yr=1&mn=11&dy=0&id=p33566311742

And on the other hand, a smaller index has broken out of that same declining resistance line and the 200 day moving average.

http://stockcharts.com/h-sc/ui?s=FXI&p=D&yr=1&mn=11&dy=0&id=p13946303084

The problem with both indexes is the lack of volume currently. Even 5 years ago that was a bad sign, but the destruction of the middle class's assets in the USA and Europe has definitely changed the volume rules. But, if volume picks up here it could be the start of a super bull. If not, just an intermediate rally, which I favor. If PGJ breaks the declining resistance line I might dabble with some. If it fails to break the line, I keep watching.