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.

Start of New Upleg for Taiwan ETF?


The big picture of the iShares Taiwan ETF (EWT) shows its powerful upmove since August 27 (10.60) into yesterday’s high at 11.87. Most important, however, is the recent surge above a 4-month resistance plateau in the vicinity of 11.50, which now becomes key support on any pullback. As long as that upside breakout plateau contains any corrective weakness, the overall pattern argues for additional strength that projects next to 12.60 –- on the way to 13.50. I regard all of the action between the April high at 11.51 and the August low as a correction of the powerful upleg from the January low to the April high, which if accurate means that the strength off of the August 27 pivot low is the start of a new upleg within the January-present bull phase.

  • 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!