Europe

Europe is in the news this morning as the European Central Bank cut interest rates, reduced its deposit rate to a NEGATIVE 0.10% and plans to announce other measures to counter slow growth and deflation in the worlds second-largest economy.  I've posted above a chart of the Vanguard MSCI Europe ETF.  Like a lot of major market indices, it's plodded higher this year.  Nothing spectacular, just a steady grind into the north-east quadrant of the chart.  There's support around 60 on the chart and like a lot of the ETFs we follow, its over bought in most of the timeframes we measure.  

*This is not a recommendation to buy, sell or hold this ETF, although we are long VGK in both client and personal accounts.  Just a look at a chart that's currently in the news.  Note that our positions in this name and any other security we ever mention are subject to change at any time without notice to readers of this blog.