The way that I view this is threefold. First, exchange-traded enthusiasts should acknowledge the yuan's stable, slow rise against the U.S. dollar. (See the WisdomTree Chinese Yuan Fund in 3 ETFs For Hedging Against A Falling Dollar.)

Second, the world's second-largest economy has been recovering from its soft landing; recent manufacturing activity in China hit a six-month high. p/Third, China's stocks represent a far better value with an average P/E near 10 compared to the S&P 500's P/E near 18.5.

Sure, it is not always easy going with a foreign stock fund. The last three years have been particularly unkind to those who have diversified abroad. Yet chasing the "fairly valued" or "overvalued" U.S. market with additional cash that you may have on the sidelines is not likely to be as beneficial going forward.

The world's second-largest economy offers opportunity that should not be ignored. Indeed, even the pattern of "higher lows" since the late June bottom is desirable for investors who are fond of technical trends.

Courtesy of StockCharts.com

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

Disclosure Statement: ETF Expert is a website that makes the world of ETFs easier to understand. Gary Gordon, Pacific Park Financial and/or its clients may hold positions in ETFs, mutual funds and investment assets mentioned. The commentary does not constitute individualized investment advice. The opinions offered are not personalized recommendations to buy, sell or hold securities. At times, issuers of exchange-traded products compensate Pacific Park Financial or its subsidiaries for advertising at the ETF Expert website. ETF Expert content is created independently of any advertising relationships. You may review additional ETF Expert at the site.

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