I was on BNN’s MarkerCall on Friday at 6pm, where I covered the charts presented today, as well as those requested by viewers.
This week, I’ll cover 4 international indices that look to be presenting exceptional upside potential.
I’ve covered this one in a prior blog, where I suggested that Europe was getting ready to break out and move higher — here’s the link: here. The SOX broke out past its 2600 level as originally suggested on my blog. This breakout, along with some better news coming out of Europe, suggests upside for the index. In an ideal world, I’d look for a pullback to the breakout point, but there’s no guarantee that will happen.
The Nikkei has been caught in a bearish channel since the beginning of 2010. December’s breakout of this channel makes the Nikkei a very attractive technical profile right now. The classic ETF to consider is EWJ (US) but there are others worth exploring for this potential turnaround story.
I suggested back in November that China might be ready to rally in this blog: here.
Caught in a nasty downtrend since 2011, the Shanghai has broken the trendline, based, and is now breaking the neckline of that base to the upside. This breakout paints a bullish picture for traders.
The WisdomTree India Earnings fund ETF is just starting to break both its 2-year downtrend, and a symetrical triangle formation that formed over the last half of 2012. Both of these developments are bullish for this ETF.