Out of all major indices, Korea is down the most tonight. I didn't realize that EWY now has weekly options, not as much liquidity as EWW or EWZ, but at least they exist.
In any case, looks like a H&S pattern..... also, note how much bigger the movement compared to SPY. I always tell people teh return is better with foreign index ETFs.
Looking back over the last few weeks, it's clear that foreign stocks have been the safest, best play to take advantage of looming dollar inflation.
I should have bought and held countries with accelerating growth, like Russia (RSX) and South Korea (EWY).
Hoping at some point in the next month or two I get a good buying opportunity in either one, probably to ride...
Euro markets all threw gravestone dojis this morning, I should have bought some Italy puts. Looks ike an exhaustion gap, but in reality it was a gravestone in the actual index. (Pattern difference is caused because the markets aren't open at the same time.)
I bought some EWW (Mexico) puts instead, because of better liquidity, but his would have been a good...
While there are folks that may disagree, i've always looked at the $EWY as an early indicator of possible downside pressure, globally. If you look at this chart, the EWY has been step laddering against the SPX, diverging much more so at the beginning of 2019. While the SPX was making new highs and posed to break out to new levels, the EWY steadily continued its...
With the completion of the elliott pattern on the downside, I am on my toes for a nice squeeze in these markets.
My momentum fractal matcher aligns the 5th of July on the daily, with 8th of February on the hourly. If you look at what happened after 8th of Feb 2018, that was a 10% move up in 5 days. I don't expect this move up to be quite that fast, but I think it...
I've made a lot of money in the powerful bullish market in Korea. This trade set up is very simple. If we see a bounce from current levels within the upward channel early next week, then I will get long.
Ended up going with the fly. Filled for a 2.59 credit.
Max Profit: 2.59/contract
Max Loss: 2.41/contract
BE's at 60.41/65.59
Notes: Shooting for something north of 25% max ... .