The iShares FTSE/Xinhua China 25 Index ETF (NYSE:FXI) is trading sharply lower this morning. The FXI is declining by $1.00 to $41.58 a share. The FXI has been in a major down trend since early November 2010 when inflation began to really hit the Chinese economy. Traders can watch for short term intra-day support for the FXI around the $41.40 and $41.00 levels. Both areas could see small intra-day bounces.
Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.