From the desk of Steve Strazza @Sstrazza and Grant Hawkridge @granthawkridge
Thanks to everyone who participated in last week’s mystery chart.
We asked whether this chart had the momentum to finally reverse course and break loose from the grips of its primary downtrend.
The responses were mixed, with many wanting to wait for more information… In many cases, looking for confirmation of the impending breakout.
Well, not much has changed as the chart has yet to make a decisive move from this key level.
The chart was a weekly candlestick view of the MSCI Frontier Markets ETF $FM.
Let’s dive in and see how we want to play this index comprised of stocks from some of the least developed countries around the world.