The International fund and or EFA is my only immediate concern in the market at this time. There are some key indicators that have broken down and have put me in a watch mode. First look is the Weekly chart of the EFA.
The notes are on the chart but by Friday the 8th, it would be nice if price holds above the little red line. Closing below creates a pivot high which is an indicator that price might be setting up for lower prices.
Above is the daily chart and you can see the yellow circle. Notes are on the chart and since the daily moves so much faster than the weekly, it gives us a zoomed in view of the market action. There are many warnings firing off here and we must watch carefully for a bailout. 50 day moving average is still safe, as is the CBL, but the CBL looks to be in trouble.
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