An Overseas Opportunity in Developed Markets 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Roy Gulluoglu.
The iShares Core MSCI International Developed Markets ETF (IDEV) has formed an approximately three-month cup-and-handle pattern, which should act as a bullish continuation setup within its multi-year uptrend.
Developed markets haven't experienced the same explosive momentum as Emerging Markets (EEM), with the performance gap largely reflecting the differences in index composition.
The Emerging Markets ETF remains much more concentrated in Technology, while IDEV has greater exposure to cyclical sectors like Financials, Industrials, and Consumer Discretionary, providing a broader representation of the market.
The Takeaway: A breakout from developed markets would reinforce the improving backdrop for global equities.
More Great Charts
The VIX has fallen back below 16, marking its second-lowest close in a month.
Check out the full tweet from Matt Weller.
Tuesday's downside gap in the Nasdaq has now been filled.
See the complete post from Walter Deemer.
Over 80% of Semiconductor stocks reached oversold levels yesterday, a condition that could support a durable bounce.
View the whole tweet from RenMac.
Oracle is testing a key support level near $140 following its sharp decline.
Examine the entire post from Equity Clock.
Leveraged ETF activity has increased tenfold since 2010.
Check out the full thread from Todd Sohn.
Total Crypto Market Cap excluding Bitcoin and Ethereum is threatening a major breakdown.
See the complete post from Aksel Kibar.
The advance-decline line for high-yield bonds is resolving lower from its wedge.
View the whole tweet from Rennie Yang.
Higher Treasury yields have recently weighed on Homebuilders.
Examine the entire post from Shane Murphy.
The U.S. 10-Year Yield remains in a bullish structure, supported by a rising 200-day moving average and an RSI that continues to hold between 40 and 80.
Check out the full article from Mike Zaccardi.
The Chart Report curates best-in-class technical analysis from across the web.
If you’d like to share a chart or just say hello, email us at [email protected]
