In the past 2 months I’ve been tracking volatility of ETFs and futures according to a formula that normalizes it in relation to the 200 day standard deviation of their True Range. ECH, or Chile’s stock index tracking ETF has been leading the pack for weeks now in the volatility and direction departments among a list of a few dozen liquid ETFs (over 500k in 10 month average volume).
It hasn’t bounced at all during the most recent multi-day rally last month. I know Italy is occupying the headlines with all its’ gigantic debts and parabolic credit default swap charts but maybe it’ll be worth to keep a close eye on Chile in the next few months.
