Numerous iShares MSCI Country Index ETFs have recently rallied off small Head & Shoulder (H&S) bottom reversal patterns. Most have not yet reached their targets based on the measuring objective determined by the H&S.
Watch as the markets retrace back down towards neckline support over the next one to three days. After that, prices should rally again to reach price targets. A break through neckline support turns these ETFs bearish. Here are just some ETFs exhibiting the H&S bottom pattern. (www.etftrends.net)
iShares MSCI BRIC Index Fund ETF (BKF)
iShares MSCI Germany Index Fund ETF (EWG)
Germany ETF (EWG)
iShares MSCI Hong Kong Index Fund ETF (EWH)
Hong Kong ETF (EWH)
iShares MSCI Malaysia Index Fund ETF (EWM)
Malaysia ETF (EWM)
iShares MSCI France Index Fund ETF (EWQ)
France ETF (EWQ)
iShares MSCI Taiwan Index Fund ETF (EWT)
Taiwan ETF (EWT)
iShares MSCI United Kingdom Index Fund ETF (EWU)
United Kingdom ETF (EWU)
