Euro Zone ETFs Look Weak

03/25/2010 9:20 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart
Click to Enlarge

As the major US averages have moved above the January highs, much of the world is lagging, especially the euro zone countries, of which several have seen their 50-day moving averages drop back below their 200-day counterparts. Obviously, Spain has plenty of problems, and the ETF EWP has rallied from the support at $39, but just reached the 38% resistance level. The Italy ETF (EWI) has had a similar rally with strong resistance now in the $18.50-$19 area. A break for either below the February lows would be negative.

  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on STRATEGIES

Keyword Image
MSG Networks: A Sporting Chance
12/12/2018 5:00 am EST

Validea is an advisory service which assesses stocks based on the investing criteria of many of the ...