The ETF on ASX is $IKO South Korea, iShare MSCI South Korea.
This ETF tracks $EWY in the US Market.
I like this wedge chart pattern here, we are still trading sideways since the start of the year.
A breakout is coming,
currently, the price is still above all three moving averages, (21,50,200).
Therefore, it is more likely to break out into the upside.
EWY posted the same pattern as it did before the last 2 big drops. Entered into some puts today for next week.
There's still room for it to go hit resistance and ATH, the 2 lines I've drawn. If it goes up from here, look for a similar pattern before shorting.
I'm bearish for Monday, but who knows, they can do another vaccine pump, 3 weeks in a row, lol.
Korean stocks are attractively priced compared to American equities. Initially a falling dollar benefits American exporters. If the dollar falls too far, it will be bearish for American stocks and we could see International stocks take the lead again. American stocks tend to underperform after a decade of outperformance. The EWY Korean Index is comprised of...
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...
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...