The Philippines ETF (EPHE) sees a rally this week which is probably counterintuitive which is likely to confound many investors. But this is the kind of reaction we see these days. Technically for us the WEEKLY HI/LO’s have led the way in providing good exits. The most recent LO never completed which would have led us following this discipline would have benefitted.
Going forward and until the election completes, I don’t see any reason now to post weekly charts on Friday’s. I’ll return to post once this important event occurs.
Our proprietary HI/LO indicators represent existing trends that may weaken or even reverse. Possible actions include closing an open position or even reverse especially if market is at extreme levels as measured by Relative Strength Indicator or similar.
Daily charts indicate short-term views and actions while Weekly charts indicate intermediate views. Long-term views are indicated by Monthly charts.
There is no guarantee these indications will pan-out but we do believe, based on experience, outcomes are likely to happen.
Dave Fry is founder and publisher of ETF Digest and has been covering U.S. and global ETFs since 2001.
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