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When it comes to population, China represents one sixth of the world's population. Does size matter? At this time, it appears the Shanghai Index is testing the underside of this flag/pennant pattern at (1) above.
The iShares MSCI Emerging Markets ETF (ARCA:EEM) has lagged the U.S. over the past few years, yet has done really well of late, as its rallied from the bottom of its flag/pennant pattern.
Even though the Shanghai and Emerging markets haven't done nearly as well over the past few years as the United States and Europe, what direction the Shanghai takes from here could tell us a great deal about world-wide growth or lack thereof.
Keeping a close on this whale and Emerging Markets right here!
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