This whole world has gone Turkey stupid (see TUR), OK is close to all time high because GDP went up 0.1%. that's right, 0.1% Wow. I do not recommend shorting anything until one of the Fed members tank the market next week, lol. Watch the event schedule next week. look at Mexico (EWW) as well. The whole world has gone pumptastic. Too much money floating...
Will 'oversold' EWU get more oversold? Now hearing headlines of potential move of British Pound to parity. High energy costs hurting consumers and business may hurt profits for companies. WIll EWU hold or continue down trend?
Neutral for now, but long-term looks like UK is set to outperform Eurozone Better to wait for confirmation! Either way, UK (EWU) is looking somewhat promising as well.
Conviction: 3/5 Main risk is that we will retest previous support at a lower level Evidence breaking out of LT support (2007) RSI-D recently turned down from overbought levels Risk Could retest previous resistance at lower levels in the coming weeks/months RSI-M and RSI-W are not showing particular signs of overbought or oversold
Introducing the Buffett Indicator One aspect of the recent rotation from growth stocks to value stocks is that investors have been rotating into undervalued markets that have suffered ten-year downtrends. The "Buffett Indicator" provides a way of comparing country-wise stock market valuations. The indicator divides total market cap (TMC) by GDP plus Total Assets...
It would be hilarious if this actually broke out right now, might be time, might be a fake out, anyway, watching closely