Minor Completed Pullback in ADR 50 ETF

The pattern carved out by the BLDRs ADR 50 ETF (NASDAQ: ADRE) during the past several sessions has the look of a completed minor pullback within the dominant upleg off the March low at 45.09. Provided the policy action the FOMC does not create a plunge to the downside, the ADRE should begin a climb to new recovery highs above 54.80, projected into the 55.80-56.20 target zone.