Will be monitoring $EWZ over the next few weeks to see if this 3.5 year shit show is turning a new leaf with the recent break of a major downtrend line (2 variations drawn) on a positive divergence in RSI
, and a slowly uptrending MACD
that crossed the zero line and is at levels not seen since early 2012. The downtrend line of momentum on a weekly relative basis vs. the S&P
has also been captured while putting in a higher low. While things are definitely looking interesting, I would want to see the downtrend line from early 2008 as well as the 200 day moving average captured before going long.