EWG is down to 2013 levels. Is the SPY going to follow?
The german market is sporting a beaut of a wedge right now! This chart is so pretty, I kinda feel bad for drawing on it. There are many ways to take a potential profit due to the clean air on the left side of break out. One way is to use a simple median line. The great thing here is that the longer price uses to reach it, the higher the profit. With regards to the...
With the EURO rallying, look for countries that are major exporters to get hit. EWG has a classic bearish rising wedge, with negative MACD and RSI divergence.
At the time I don't have EWG in my portfolio. But after the next correction it could be a hot candidate. Just my personal opinion, not a recommendation. I hope the ETF world will publish a few leveraged ETFs on Germany.
A break of the trendline spells trouble for the other markets that have held up well in the last year.