Weekly chart topped at Halloween and downward channel of lower lows and lower highs ever since.
Last week price lost the lower rail of the long term rising wedge, not good.
Confluence at 68-69 is next.
Apologies since YHOO will not allow direct chart links due to spammers.
For the EWZ chart,
Simply google 'keystone Speculator' and link comes right up.
Or, view at 'stockcharts Public charts List' under 'The Keystone Speculator', EWZ is chart #7630.
Sayonara! I have been watching EWZ for some time now and have been playing in and out for a while. I just know that when people start to pump it then in a very short space of time, it almost always dumps.
And the pumpers are always the same crowd so take this as a salutary warning. I believed in EWZ and probably still do. But a profit is a profit and when it is so well signposted, I just cannot refuse. I still think therefore it will drop down towards 70 when everyone will then be saying EWZ is a dog, and then that's the best time to buy.
Congrats to those of you that caught the big EWZ spike up. India and Brazil show the same behavior--must be Chairman Bernanke's hot easy QE2 money that provided the catapult.
EWZ is at the top rail of the long term rising wedge however, so a pull back would be expected. Price should continue along sideways to sideways down moving forward.
EWZ chart google keystone speculator or view at stockcharts public charts list keystone speculator.
EWZ i think is the best place to hide out during Japanese crisis. Its far away and in the last 5 days since the disaster The EWZ has outperformed, the S&P 500, FXI (iShares China ETF), the EWJ (iShares Japan ETF), EWC (iShares Canada ETF),and the IEV (Ishares Europe ETF).
Pretty clear i think