Watch the Foregin Market Breakouts

International markets have taken a powder since mid-October. Today they seemed to have awoken again. I see lots of breakouts from trading ranges today – Russia (RSX), South Korea (EWY), Canada (EWC), Emerging Markets (EEM), Commodities (DBC). I have been waiting a long time for these trading ranges to break.





These are all potentially starting to work as the Euro (FXE) is testing its 200-day (Purple Line), after a 38% pullback in December.


The New York Stock Exchange ($NYA) also broke out today. If these breakouts hold, then we probably get another leg up and test the 61.8% retracement level of the last Bear Market at 1,230.