There is some kind of similarities between EWT (Taiwan Fund) of early 2009 and the current TLT (Long term US treasuries) chart. If the similarities were to continue, then TLT could do some more backing and filling within the green triangle before breaking out of it in about two to three months.
In early September the post on EWT (Taiwan ETF) showed a target of $12.5 (Click Here) . We printed $12.40 yesterday... close enough ! The target is reached, I advise selling EWT on any rally for the long term. My target on EWT by March 2010 is $9.5 !
EWT(Taiwan ETF) is about to breakout.. it is trading at $11.4 as i'm typing this. "If" it does breakout .. I don't see it going any higher than $12.50. Gray shaded area.
