With today's move in EMFX, and particular dollar strength...it's time to leg back into EM exposure. One EM exposure we like is Brazil. EWZS, the Brazilian small cap ETF, is sitting at it's lower Bollinger band on the daily chart, as well as approaching a cluster of EMAs. I'd leg into a small position here.
Although EWZS fell sharply, it "stopped" at the lower end of its up trending channel as well as its 200 day moving average. Additionally, it managed to stay above an oversold condition in RSI, a bullish sign. Looks to be a good Risk/Reward entry point.