Don't Ignore This Chart!

Channel Support Break in Egypt ETF Preceded Upheaval

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Last week's upheaval in Eqypt contributed to a sharp decline in US stocks on Friday. Even though the upheaval began early last week (Tuesday), the Egypt ETF (EGPT) gave fair warning with a support break a week earlier (January 18th). This looks like a classic case of the markets leading the news.

110131egpt
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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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