Here is the SPX chart again in Black with the FXI China ETF overlaid in Gray. AS previously posted both track together when all is well with the financial world. BUTTTTTT when the FXI sells off for weeks and weeks AND the SPX keeps rallying like it doesn't matter LOOK OUT BELOW as a serious sell off occurs. The FXI topped out in NOVEMBER and note the SPX happily running up non stop like it doesn't need the FXI. WRONG. It does. Be prepared for a sell off.

ALSO:The VIX Index tagged "15" yesterday with the SPX 60 pts above its 50ema (mama). Perhaps it't time for baby to come home to mama. The previous times the VIX Index touched "15" was April/10 and before that May/08 and before that Oct/07 and before that July/07. Just look at a long term SPX chart and see what it was doing exactly at that point in time and what it did after. Yes it was a market top and a serious sell off after. BUT WAIT...maybe it's different this time......yeah, ok, sure.........no problem...........