International ETF, the bounce stalls
IXUS drops 2.3% as sellers retake control and momentum turns negative
International ETF, the bounce stalls
Our view last week
IXUS is in week 13 of a buy signal, and the week closes with a clean bounce: after the 2.8% drop two weeks ago, the fund breaks out of a double bottom in the 93 area and closes up 0.6%, with buyers back in control (70% of volume). Underneath, though, the pace has been slowing for a month: the ADX has fallen for a fourth straight week and momentum has nearly flatlined. The trade is still in profit, but price is now boxed between two levels just above the 95 area.
This week's summary
In this week's technical analysis, IXUS - the ETF tracking international stocks outside the US - loses ground again: it drops 2.3% after last week's bounce, with sellers back in control (66% of volume) and momentum turning negative for the first time in a month. Money flow, still positive, has nearly flatlined, while the ADX keeps falling for weeks running: the trend is losing conviction. Price stays boxed in a tight band under the 94.4 area, with the trade still in profit since entry.
IQS Phase
57
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#61 / 112
US stocks in progress
Trade P&L %
+1.95%
from signal to today
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