These EU ETFs Will Impact U.S. Stocks
Chris Kimble | Sep 19, 2016 11:07AM ET
Banks in the states and around the world remain an important influence on the broad markets.
Below looks at the patterns of banks in Europe and Italy, which helps explain why they are at one of their most important price points in years.
When EUFN and EWI started heading lower in 2015, the broad markets in the states struggled to move higher. When these ETFs hit falling channel support earlier this year and rallied, so did the broad markets in the states.
Now the S&P 500 is testing 2015 highs at the same time that EUFN and EWI are testing falling channel resistance at (1).
We humbly feel what happens at (1) above with these bank ETFs will have a large impact on stocks in the states going forward.
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