Near Term Trend: Positive
Fridays Close: 44.73 (+ 0.79%)
UPDATE: The iShares Europe ETF (IEV) appears to be in the latter stages of wave iii higher of a five wave sequence. Targets for this wave are just above at 44.87 and higher at 46.23. I would expect a pullback off of one of those levels to either 42.97 or 41.79 based on Fibonacci analysis.
Take profits on longs at 44.87, short at 46.23 with stops on closes above 46.50 and use 42.97 as a downside target to cover shorts and go long.