AMEX:EWU is in an established uptrend and, though it has broke below a trendline, shows plenty of strength to the upside. With this key bullish reversal bar, it looks that this drop is probably a very normal pullback before it continues to move upward...at least to the previous trendline.
Equities out of the United Kingdom have led the European regional indices higher on the back of strong performance from companies like BP plc., which has a TACVOL score of 3.25 suggesting that a near-term reversal is imminent.
Cyclicals, such as miners, and dollar earners led the falls while consumer staples such as Unilever, TACVOL score of 3.09, are in favor....
I-Shares United Kingdom ETF EWU
has built a Bullish Cup Pattern, as seen on the included chart.
The next decline could form the "handle" on the pattern,
which would then form a completed "Cup and Handle" Pattern.
Daily Volume in this ETF is over a million shares, so plenty of liquidity for traders.
A near term bullish breakout in EWU would project this ETF up...
On a fairly regular basis, I look for things to add to my covered call portfolio. While on occasion I'll dabble in individual underlyings, my preference is to look to exchange traded funds that represent an asset class (e.g., XRT (retail), XLF (financials)) or market (e.g., EWZ (Brazil), EEM (emerging markets)) so that my hat's not always hanging on a single...
Long Spain , Short U.K. This pair trade has been successful 77.82 % of the time during the past three years. Trade should last about 15 days .
Long EWP @ 33.17
Short EWU @ 18.52
Cheers
Algo
Markets around the world have had a nice run lately including the FTSE100 but this pattern presents a risk. Using the EWU ETF as a proxy for the FTSE100 (they differ a bit but its close) the chart demonstrates the breakout from resistance on 1/2/13, the market retesting old resistance now support on 1/8/13 and the rally higher from there. If we look at the...
EWU
