Let’s Not Forget About Emerging Europe
- Posted by JC Parets
- on January 28th, 2013
As we watch the Germanys and Frances of the world break out to new highs, we wonder how some of the less developed countries are doing out there. Standard and Poors has an Emerging Europe Fund – $GUR with companies like Lukoil from Russia and Turkish Bank Garan. The concept is interesting but the chart is really what screams out.
We’re going on test #5 of this 44.5 – 45.5 level:
This is basically what Germany and France looked like in early December (see here). So it appears as though inevitably we should see a breakout. The question here is whether they’ve been lagging the others for good reason and will continue to do so? Or whether the emerging areas will be forced to play catch-up and begin to outperform?
Either way, it’s certainly an interesting chart pressing up against some important levels. This is something I don’t think we should ignore.
Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.blog comments powered by Disqus
J.C. Parets is the Founder & President of Eagle Bay Capital, LLC. He earned the Chartered Market Technician designation (CMT) in 2008 and now actively manages money incorporating Technical Analysis and Behavioral Finance into his practice More
- Is JC Penney Setting Up For Another Leg Higher?
- Audio: Q&A on Benzinga Morning Show
- A Look At Energy On Multiple Timeframes
- Yahoo Runs Into Historic Overhead Supply
- Join Me On Benzinga’s PreMarket Prep Show 9/16 9AM ET
- Semiconductors Selloff After Failed Breakout
- Tesla Breaks Down From Traditionally Bullish Pennant
- A Multi-Timeframe Look At Mid-Caps
- Here are 4 of My Favorite Charts in the World
- IBM Likely to Break Higher Out of this Range
Archive by Year