We looked at a long list of ETFs having to do with Eastern Europe, Asia, Japan, etc.
Yesterday all these listed threw off buy signals: (EWM and EPP illustrated above) EUROX — EWT — EWM — EWS — EWT — EWY
Given the still unsettled conditions in the market we would use a 5% stop from the low of today. Today’s action is neutral — not as confirming as we would like, but not a cancelation of yesterday. It goes without saying that commitments should be light here — for example 1/3 to 1/5 of an intended commitment.
We think extreme alertness is in order the rest of this week to guard against market turbulence.