Thursday, March 29, 2018

Well, If There's One Bright Spot It's Malaysia (EWM)

The markets are in the throws of a healthy correction at the moment and frankly I couldn't be more pleased. It's long overdue and valuations and P/E ratios need to come back to earth and find a more rational level. I suppose not everything needs to fall and right now that's Malaysia ETF EWM. It's forming an ascending triangle and has reached resistance levels formed by previous tops over the months. The EMA's are positioned correctly and I just had a crossover in a long term indicator. Any close above $35.80 would be very bullish.