The New BRICs Test Support
11/18/2010 9:40 am EST
One of the strongest global exchange traded funds (ETFs) since the 2009 lows has been the Market Vectors Indonesia (IDX) as it risen from a low of $20.85 to over $93 recently, but has now pulled back towards the 50-day moving average (MA) at $87. There is stronger support at $82 with the 200-day MA at $75. iShares MSCI Thailand (THD) has also been very strong as I discussed in September, but has corrected more sharply over the past week, dropping 10% from $68.70 to $62.21, closing below its 50-day MA. The breakout level is much lower in the $55 area. These ETFs are discussed in an interesting interview with Nicholas Vardy; to watch this interview click here.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.