China ETFs: CQQQ and GXC

Bullish breakout intact for the Invesco China Technology ETF (CQQQ)

The bullish breakout for CQQQ remains intact above 51-49 with upside counts to 65 and 74 as well as the 50% and 61.8% retracements of the February 2021 to February 2024 decline at near 68 and 77, respectively. The 38.2% retracement and recent high offer tactical resistance near 58.60 and 61.20, respectively.

Chart 1: Invesco China Technology ETF (CQQQ)

Chart 2: History repeats, or at least rhymes, for CQQQ

Bullish breakout intact for the Invesco S&P China ETF (GXC)

The bullish breakout for GXC remains intact above the 97 to 92 zone (breakout points and the 38.2% retracement of the February 2021 to February 2024 decline) with upside counts to 116 and 127 as well as the 50% and 61.8% retracements near 107 and 119, respectively.

Chart 3: Invesco S&P China ETF (GXC)

Chart 4: History also repeats, or at least rhymes, for GXC

China's Shanghai Comp has a big breakout that targets 5000

The Shanghai Composites breakout above 3732-3675 confirmed a 10-year big base and suggests upside potential to 5000.

Chart 5: China's Shanghai Comp