I received a price alert yesterday when EWT (Taiwan ETF) gapped below this 2-year uptrend line. As foreign market ETFs, especially Asian markets that trade on the other side of the globe, are prone to gaps & whipsaw signals, I figured I’d wait for a little more downside as confirmation of a breakdown. So far today, EWT is trading down another 0.5% shortly after the open of the US markets today. Horizontal lines mark potential price targets but with the trend indicators still bullish, I’m only passing this along as an unofficial trade at this time.
EWT daily Dec 1st
I also received a price alert on EEM (Emerging Markets ETF) after the opening bell today with a break below this nearly year-long price channel. Should this breakdown stick, some near-term targets along with my preferred scenario are outlined on this daily chart.
EEM daily Dec 1st