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Chart Advisor: Exploring ETFs Across the Globe

Chart Advisor: Exploring ETFs Across the Globe

Posted July 10, 2024 at 10:23 am
Investopedia

By Ryan Gorman, CFA, CMT, BFA

1/ First Stop, Singapore

2/ Taiwan Strength

3/ Jolly England, Resting After a Breakout

Investopedia is partnering with CMT Association on this newsletter.  The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may trade or hold positions in securities mentioned herein do not represent the views of CMT Association or Investopedia. Please consult a financial advisor for investment recommendations and services.

1/

First Stop, Singapore

For much of my career, foreign markets have been viewed as “cheap” from a valuation standpoint. Yet their returns have been about a 5th of the large cap U.S. stocks over the last decade. 

The best way I have learned to avoid value traps is relative strength. When cheap things trend, the odds are on your side! 

Courtesy of StockCharts.com

You may be seeing some similarities in my charts if you have followed along this week. Getting a few consistent tools that work is a great way to speed up your analysis time. 

Here we see new highs, a green elder bar and an up sloping 30 week moving average. We can also see a relative strength breakout. I decided to look at relative strength vs the equal weight S&P etf to better facilitate a more diversified portfolio. 

2/

Taiwan Strength

Taiwan looks great. This should not be as much a surprise as the country has some very important companies in the semiconductor industry.

Courtesy of StockCharts.com

While the elder bar is green and the 30 week is nicely sloping up, this may be a good one to add to the watch list. The distance to the moving average is pretty big and so far this week has shown a gap up and so far is in the lower part of the range.

3/

Jolly England, Resting After a Breakout

The United Kingdom has been in the news recently with their election. Price has broken out and is in a nice relative strength uptrend to the equal weight S&P. 

Courtesy of StockCharts.com

Elder bars are blue as it consolidates. This is a good pullback and worth watching. A breakdown of this range and the bars turning red would be a good sign to avoid it. If the bars turn green however and the break comes to the upside it could refresh the rally.

Originally posted 10th July 2024

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