While the U.S. markets continue to churn sideways, flirting with the possibility of a major top, international markets are showing much greater cause for bullishness. Of this group, India is probably still my favorite, though it has already made significant gains since I first mentioned it a couple of months ago. The India ETF I've been tracking, EPI, is only now breaking above its 200 day moving average. This, after forming a pretty textbook inverse Head and Shoulders pattern. Given some consolidation, I imagine there's plenty of upside left in the longer term.
The iShares Emerging Markets ETF (NYSEARCA:EEM) is also breaking above trendline and 200 day moving average resistance, and perhaps resolving a multi-year pennant pattern to the upside.
Brazil (NYSEARCA:EWZ) has been downtrending for years, and appears to have solidly broken above its trendline resistance. It has a little ways to go before reclaiming its 200 day moving average.
Broadening the picture to include the entire ex-US world, a representative ETF, CWI, shows a multi-year ascending triangle and appears to be attempting to break out.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.