It'll be interesting for us to watch India in the next few weeks. Here's something that has lit up my radar today:
(as with all my images, right click on the image to open in a new tab or window)
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Note that LEV is constant while SmEV is dropping. This is a liquid ETF on India -- about $51MM-shares -- so it is the 800# gorilla in the room. This is a positive divergence and shows that smart money is not abandoning this ETF.
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You'll have to open this in a separate window to view the details.
Basically, we have a new trend forming here. Very early, and most of these ETFs on India are very thinly traded, so be careful. Despite the thinness, where there's smoke there is generally fire, and the fact that EPI is in this group AND is showing very good characteristics as the entire group tells me that I need to be watching India for continued strength.
Note that the slopes of the slopes (SOS2, SOS3, ...) are all leading indicators of the respective slope columns (RT2, RT3, ...). Again, early, but worthy of an eyeball from time to time.
Regards,
pgd
