|With much of the global economy under severe stress, today's chart focuses on one pocket of strength – China. In the midst of what is one of the most severe economic downturns of the past century, China's economy managed to grow by 7.9% for the year ending in Q2 2009. For some perspective, today's chart focuses on Chinese stocks and presents the current trend of the iShares FTSE/Xinhua China 25 Index (FXI). As today's chart illustrates, Chinese stocks have endured what amounts to an extremely wild ride since 2005. The FXI trended upward at an ever accelerating rate (i.e. parabolic) from 2005 to Q4 2007. As the credit bubble began to unravel, so too did Chinese stocks with the FXI trending downward at an ever accelerating rate from Q4 2007 to Q4 2008. However, Chinese stocks found their footing and have surged over 100% since their 2008 trough (8% GDP growth will do that for you) and are currently trading near the upper end of a nine-month trend channel.Notes:
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Quote of the Day"If the business does well, the stock eventually follows." - Warren Buffet
Events of the DayAugust 10, 2009 - PGA Championship begins (ends August 16th)
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