Currently: Cash Looking to: Buy @ $46.33
As of 1/8/21 close: $49.91
LAST WEEK: We suggested buying dips in IEV or European stock proxies when IEV tests $46. The upside target was given at $53 (initially). Stops were to be honored below $45.50.
UPDATE: The European ETF (IEV) continued to trade bullishly last week and appears to have much more room to go before this macro rally is done. We are still in buy the dip mode with our analysis.
Look to buy IEV or other European equity proxies on a dip in IEV to $46.33 with a target of $61.65 and with stops honored on a close below $45.20.