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Watching The German Market

Published 10/31/2012, 08:25 AM
Updated 05/14/2017, 06:45 AM

While Sandy brought the U.S. markets to a standstill, there are markets around the world that are trading. The German market, represented by the Germany Index MSCI iShares, EWG, has been interesting lately. Technically this has been building a bull flag at the 61.8% Fibonacci retracement of the move lower from the 2011 high, a second visit to this territory.

Germany Index MSCI iShares, EWG
AMEX
The Measured Move higher takes it to 28, above a full retracement on a break of the flag higher. With the U.S. markets reopening will it happen this week?

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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