The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK (ETF Expert) -- The SPDR S&P China Fund (GXC) fell 37% from an April high to an October low. That was nearly twice the top-to-bottom devastation for the S&P 500 SPDR Trust (SPY). What's more, the dramatic selloff across all China ETFs met the commonplace definition of a bear market -- a 20% drop from the peak.
Often, commentators and analysts use technical data to confirm bearish trends. For instance, when the 50-day moving average for GXC crossed below its 200-day moving average in July, the "death cross" signaled the likelihood of a downturn.
Yet few seem to be talking about whether or not China has turned a corner. In fact, prior to the beat-down in the last hour of Wednesday's trading, GXC had risen 24% off an October trough. Is the over-20% move to the upside worthy of the description, "New Bull In China?"
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