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 (NYSEARCA:FXI) and the WisdomTree India Earnings Fund (NYSEARCA: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