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Select Global Equity Markets Breaking Out

As a follow-up to Sunday's Global Equity Markets Overview video, two of the three of the countries that I had highlighted as setting up bullishly have since made clear breakouts of the patterns and/or resistance levels that were highlighted. $TSX (Toronto Stock Exchange) has broken out of the bull flag pattern that was highlighted in Sunday's video. One way for those of us 'yankees' to gain direct & diversified exposure to Canada is through EWC is the iShares MSCI Candadian Index Fund ETF. I also plan to scan for any attractive $TSX listed stocks this week, with any standouts to be posted in the trading room.

$TSX daily April 13th

$TSX daily April 13th

 

China (via FXI) was another one that stood out as bullish & has already taken out that key 34.28 resistance level that I mentioned as of today and in a very impulsive manner (large gap on volume) to boot.

FXI daily April 13th

FXI daily April 13th

 

Finally, we could get a little 'thunder down under' should EWA (iShares MSCI Australia Index Fund ETF) take out both this downtrend line + the orange support zone that tops out around the 20.17 area. A break of that downtrend line would also coincide with a breakout above the bullish falling wedge pattern that was highlighted in the video on the $AORD (Sydney All Ordinaries Index) weekly chart.

EWA daily April 13th

EWA daily April 13th

 

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Apr 13, 2016 10:29pm|Categories: Equity Market Analysis|Tags: , , , , , |3 Comments

3 Comments

  1. pangblood April 13, 2016 10:34 pm at 10:34 pm

    Randy, can you take a look at TK looks like an interesting breakout, and near a price range with no volume for a potential gap up
    CAT just broke out with convincing volume
    CARA also breaking out with very bullish momentum

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    • rsotc April 14, 2016 9:44 am at 9:44 am

      TK was covered in detail in one of both of the recent shipping stock videos; right at that key resistance/breakout level now- watch for a move above 10.70 on volume & has the potential to rip about 65%.

      CAT just ran into solid resistance at 79.50 where a reaction is likely.

      CARA- Quickly approaching R at 7.80 where a reaction is likely. G-luck on all!

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  2. lee1 April 14, 2016 7:26 am at 7:26 am

    Randy, would it make sense to go long some index on the Canadian stock exchange? Perhaps you have some suggested indices/ETFs to buy with CAD dollars on the TSX ? When you look for specific Cndn (TSX)stock setups perhaps you can also suggest some long Canadian ETFs/indices. Thanks for your efforts.

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