China (FXI) Rejected at the 200 Day Moving Average

I've had my eye on China for a while and I've paid attention as it has rolled over. It led the S&P up, and now it appears to be leading the way down. Last week it fell through the 200 day moving average and yesterday rallied back up to the 200. Well, today it has been soundly rejected, just look at the chart of FXI below. In the meantime, stay nimble and defensive as most stocks follow the market.