Australian and Canadian Stocks Consolidating

12/04/2009 9:41 am EST


Thomas Aspray

, Professional Trader & Analyst

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The daily charts of the ETFs for both Canada (EWC) and Australia (EWA) show that neither has made new highs with the US markets in the past few weeks. If the US market drops, they could correct further, but until the support connecting the recent lows is broken, these are viewed as continuation patterns and not a top.

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