Chinese Stocks Going Vertical – Again
MSCI Inc.’s China gauge tracks 150 of the nation’s companies that have listings outside the mainland, including in Hong Kong and U.S. bourses.
The index now trades within 1 percent of levels last seen in August 2015, when the nation’s equities were in a tailspin following an epic boom. Shares are again looking frothy, with the MSCI China’s 14-day relative strength indicator rising to 78.8 on Monday, above the 70 level that signals to some traders that stocks are overbought.
In other words, everything is awesome. Don’t forget to Buy….Buy…..Buy.