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While the major US averages are still below the widely watched June highs, some of the other world markets have overcome this resistance. The better relative performance of the Malaysian ETF (EWM) and its Singapore counterpart (EWS) was discussed in July and both have now moved above the June highs. The completion of the triangle in EWM has upside targets in the $13.50-$13.80 area. The completion of the trading range in EWS suggests a move to $14.30-$14.50.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.
