Global Support Levels to Watch

06/08/2010 10:27 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

Click to Enlarge

Monday's action in the US market was quite negative, suggesting further selling is likely this week. The key 38.2% support for the S&P is at 1010, while the broad EAFE Index (EFA) looks ready to test the 50% support at $45. There is additional chart support in the $43-$44 area. The MSCI Emerging Markets index (EEM) has 38.2% support just below $35 with the 50% support at $32. Both markets are oversold but show no signs yet of a bottom.

Tom Aspray, professional trader and analyst, serves as video content editor for The views expressed here are his own.

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

Related Articles on ETFS

Keyword Image
Safe Money's Defensive Moves
12/05/2018 5:00 am EST

This stock market is flailing around like a fish out of water, with whipsaws increasing every week, ...

Keyword Image
What's Next for a FAANG Fund?
11/29/2018 5:00 am EST

There has been much ado about "death crosses" among the talking heads of Wall Street, particularly r...