Wang’s Happy Trading

FXI reached a high of $219.56 on Oct 31, 2007, and, has subsequently been falling. For about 2 months now, it has been testing the support at $170. Today it fell below this level, in a dramatic way. FXI closed down 7.55%, or $12.89, at $157.8599, almost 13 points below that $170 support.

This weekend, we took a look at LVS, as our Case Study #1, in Identifying Breakouts! That was a breakout to the “UP” side. Now, we will apply the similar methods in examining FXI, as a “potential” breakout, to the “DOWN” side.

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Good night and HappyTrading! ™