I have charted the Mexico country ETF (EWW), first below, as a short idea. However, like most things in a bull market it is taken its sweet old time getting there. On the weekly timeframe, note the broader topping potential as well as the recent weakness. An aggressive idea is to short it here with a cover-stop above $67.
Next, crude oil continue to act like a textbook bull trap more and more by the day. Note the false breakout last month and continued weakness today on the USO ETF.
Some long ideas with impressive strength this morning: AMRI CECE CMG VNET.
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speaking of traction, what are your thoughts on MTL back down here on the 200 day? thx
sorry, meant 50 day
Jeff, I hate seeing MTL below $3.30. I am taking on a pass on it for now.