Here is a chart of the Latin America 40 ETF. Clearly, the trend is up but MACD is finally showing something interesting for the bears.

The last time MACD got up this high was in June just before the market corrected. Since the trend is still up it would be a good idea to wait for MACD to actually put in a downside crossover between its two component lines before growling.

In other words, the trend is still up! But now with some actual evidence to say it is too high for this point in time.

Don’t forget, we put up a chart of the day on the home page