This is an update of the Countries Rotator from Friday (top) and this morning’s first hour (lower). GAF and IFN continue to reflect volume distribution, while EWJ, which held steady on Friday has now joined the misery as of today’s action. A quick check of the chart technicals shows potential for continued downside on most of the Country components with the previous December lows as the first level of support that will tell the rest of the story. IFN has already violated the December low although GAF is well above that support line. Odds favor continued distribution of Rotator components for the short term.
Related posts:
