Insight on Country ETFs
04/21/2010 1:08 pm EST
Since the March 2009 lows, some of the country-specific ETFs have had spectacular gains. The iShares Mexico ETF (EWW) is up 147% through last Friday, and the weekly chart looks strong as EWW has moved well above the January 2010 highs. The long-term trend line resistance is in the $59 area, about 10% above current levels. The simple trend-follow method depicted on the chart has done a pretty good job of catching the major swings. To learn more, click here to sign up for this week’s Trading Lessons e-letter.