Asian Markets Improving
07/12/2010 9:38 am EST
Though the S&P 500 made lower lows last week, many of the overseas markets did not, and some of the Asian markets look the best. The iShares Singapore ETF (EWS) held above the February lows in May, and after a minor setback last week is again testing stronger resistance. The iShares Malaysia ETF (EWM) formed even higher lows, suggesting that it should perform better than EWS, with key resistance at $12.10. These ETFs have short-term support at last week’s lows, $11.12 and $11.36, respectively.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.