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Is the Hang Seng starting to perform better than the S&P 500?

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HSI/SPY  
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HSI/SPY  
Trend Analysis Support and Resistance Trend Lines
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trendanalysis supportandresistance trendline
When you look at the HSI vs SPY you can see a downward trend for at least a decade. It tried a breakout in 2017 but then Trump started the trade war and it again went back to the downtrend.

Since October 2020, however, there seems to be another uptrend forming. Could this be a signal that Chinese stocks will perform better in the coming year vs US stocks?
Penafian

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