MSCI Spain revisited & SPU appears vulnerable
We read recently that the current uptrend in US stocks and other risk assets is little trusted. That doesn't guarantee prices must meaningfully change direction to synch up with expectations. But it could. And it could happen very soon. On August 6th we were watching for an indication the rally was at a stopping point - specifically, a chart of iShares MSCI Spain Index Fund (symbol EWP.) We were looking for EWP to hit a target just shy of $27.
Market Vitals | 21 August 2012 [http://blackswantrading.squarespace.com/storage/market-vitals/082112_mv_ewp_revisited.pdf] ~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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