I’m happy to announce I am now a contributor for SeeItMarket.com. It’s a great site run by Andrew Nyquist with a lot of good content. I’ll be writing a post there once or twice a month.
My first post takes a look at Mexico ($EWW) as it’s been beaten down along with the bulk of the other emerging markets. There are some interesting developments on both the daily and weekly charts.
Here’s a piece:
Mexican equities have been experiencing an awful 2014, with the iShares Mexico ETF (EWW) off nearly 12% YTD. The emerging market space as a whole has been a third rail for traders – touch it and you die. However, after heavy selling has taken place, it’s often time to start looking for opportunities and interesting chart setups. I think Mexican equities via the EWW is beginning to show signs that it’s ready to dust itself off and step back into the bull camp.
First I want to take a longer-term view of the iShares Mexico ETF (EWW). Two things stood out to me when I first started looking at the weekly chart of EWW. First was that it’s sitting on its 200-week moving average. This MA has provided nice support during the uptrend off the 2009 lows for Mexican equities. We saw it tested in 2010, 2011, and just briefly in 2013. In the zoomed in thumbnail on the right of the chart you can see that last week we closed under the 200-week MA but have since bounced back above it as buyers came back into this country-specific ETF.
Read the rest: Are Mexican Equities Ready To Bounce? (See It Market)
Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer. Connect with Andrew on Google+, Twitter, and StockTwits.