Thesis: South Korea is being considered as an AI startup hub as well as a chip source for AI. it has a bullish trend. i am waiting for price to reach the lower end of the lower dynamic volatility range to start incrementally building a position in 0.25-0.5 basis points
Long idea for EWY South Korea ETF. Bullish impulse wave to 66.50 - 68.80 could be possible after actual range.
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. Buy...
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. Note,...
Korea isn't being hit by COVID at all, but they're still looking at deflation and their GDP is down.... Yet we're approaching ATH. If the market goes up next week, I'm buying some puts on Wed.
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...
I expect Asian markets to tank tonight, especially Korea, they really commit to tanking. Some weekly EWY puts...
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.