Currently: Cash Looking to: Short here, tgt 41
As of 9/18/20 close: $43.33
LAST WEEK: We suggested shorting European equity proxies at / near last weeks close with stops honored on a close above $43.43 in IEV shares and with a target for covering and getting long at $40.86.
UPDATE: The European ETF (IEV) remains stubbornly buoyant even as US equities are pulling back. But they are not busting through to new highs yet, though. We still believe European stocks will pull back and would be shorting ahead of that pullback playing out.
We would short European stock proxies at current levels with stops on a close in IEV above 44.06 and with a target of $40.93.