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A trade looks imminent.

Two of the ETFs that I follow in my strategy have pushed into “very oversold” territory. The iShares FTSE China 25 Index Fund (FXI) and the WisdomTree India Earnings Fund (EPI) have RSI (2) readings of 0.51 and 0.54, respectively.

As a result, will most likely enter a short-term position in one of the aforementioned ETFs.

click to enlarge

Short-Term High-Probability, Mean-Reversion Indicator – as of close 5/04/11

Source: Short-Term, High-Probability Mean-Reversion Indicator: FXI and EPI Very Oversold