Category Archives: Foreign

Wait For It…….

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All four days this week have been about recovering from last week’s action; I suspect/hope the unraveling can resume on schedule next week. Aligned with that, Japan is setting itself up for a bigger fall than we’ve seen for a while. If DXJ can fight its way back to about $47, I think it will provide the proverbial lay-up shot of a shorting opportunity.

0417-dxj

Emerging Fear

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My largest short heading into the day was EEM. In spite of yet another ridiculous mini-rally this morning, things are once again falling to pieces. As the daily chart shows, the repetition of buying-based-on-unicorn-farts followed by a stall (tinted thrice) and then a plunge-based-on-reality is getting a little predictable.

0415-EEMN

Silky Smooth Sino Sinewaves

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It’s refreshing to see a market move with graceful predictability. The Chinese ETF for the Shanghai Composite, shown below, has been flowing in a much smoother pattern than – oh, let’s say for example – the U.S. markets. A goodly portion of its likely drop is done, but it looks like a continuation down to about 31.50 is most likely.

0311-fxi