Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Significant Low for Latin America ETFs


The enclosed comparison chart shows several Latin American ETFs. Let's notice that the iShares MSCI Mexico Index Fund (NYSE: EWW) chart shows a high-level bullish consolidation pattern developing. My near-term work indicates the EWW put in a significant low coordinate this morning at 60.15 within the coil, on the way to revisit the top of the pattern at 62.50-63.00 next.

Just beneath EWW on the chart is the iShares S&P Latin America 40 Index (NYSE: ILF), a broader Latin American ETF. My work indicates the ILF has ended a complex 3-month correction from its 54.87 to today's low at 50.11, where it has pivoted sharply to the upside off of both its sharply rising 200 EMA and its 9-month up trendline.

If today's low and upside reversal is as significant as my technical work indicates, then the ILF is in the very early stages of a new upleg within its longer term bull market.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!