To update this blog post from late-last month, those who were recently hopping onto the rally in Mexico have indeed arrived too late to the party.
The EWW country ETF is now threatening an ominous bear flag breakdown, below, while once-hot plays like FMX and KOF are also weakening considerably.
It might not mean the beginning of a fresh bear market for Mexico, but rather a retest of the EWW primary breakout in the low-$60’s.
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