aravindran1
Long

Emerging Markets...Time to Emerge??

AMEX:LBJ   DIREXION DAILY LATIN AMERICA BULL 3X SHARES
I see 2 possibilities,1) a retracement into the box area, testing the neckline, and then a trust higher.2) Or a larger inverse Head and shoulder formation , which would be a stronger reversal pattern. I like the latin america over india because of a bullish MACD divergence on LBJ/ILF. I think Inverse H&S would create some fakeout for the bulls, before actually thrusting higher. Also an inverse H&S will be much more prominent on a weekly chart.
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