Currently: Short Looking to: Cover @ $44.90
As of 1/10/20 close: $46.72
LAST WEEK: We suggested shorting bounces to $47.21 on IEV with a downside target for covering at
$35.87.
UPDATE: The European ETF (IEV) is pulling back after a test of the first of two possible correction ceilings
at $47.23 (the other one is up at $48.65). There are two pullback targets for IEV even in a bullish overall set-up: $44.90 and $43.11.
We would sell longs / get short here with stops honored on a weekly close above $47.25 and with a target for
covering at $44.90. If a dip to $43.11 occurs, get long with stops < $43 and with a target of $48.65.