Many of the Japanese ETF charts we mentioned in last week’s ETF Screener look even healthier this week. Two new Japanese ETFs joined the party this week as ETFs that could outperform the S&P 500 in the near-to-intermediate term.
- iShares MSCI Japan Index (EWJ)
- SPDR Russell/Nomura PRIME Japan (JPP)
Japan isn’t alone on the international front. Many high yielding international ETFs and one currency ETF, iPath GBP/USD Exchange Rate ETN (GBB), popped off the charts in this week’s ETF screener. Investors will be rewarded with rich dividends while invested in these international ETFs that flashed technical analysis buy signals.
- WisdomTree Europe Total Dividend (DEB) 6.63%
- WisdomTree International LargeCap Div (DOL) 6.16%
- WisdomTree DEFA Equity Income (DTH) 8.45%
- WisdomTree International Communications (DGG) 5.79%
- WisdomTree International Health Care (DBR) 3.05%
- WisdomTree International Utilities (DBU) 6.98%
One final note for the international scene, keep an eye on iShares MSCI South Korea Index (EWY). As many of our readers know, the little dictator in North Korea is spouting off big time. First he warned of his own July 4th fireworks show off Hawaii. Then yesterday, the NORKs pulled the "we are going to wipe the USA off the map card", while the U.S.S. John McCain tails a North Korean ship expected of carrying illegal cargo. As a result of all this turmoil (and we didn’t even mention the nuke test that announced the new level of belligerence), EWY has taken a hit. If all this "silliness" turns out to be silliness, EWY should bounce. If North Korea is dead set on a major confrontation with the US, EWK will be negatively impacted.
Back on the home front, 2 healthcare ETFs and a patent based ETF posted the only new technical analysis buy signals.
- iShares Dow Jones US Medical Devices (IHI)
- Ultra Health Care ProShares (RXL)
- Claymore/Ocean Tomo Patent (OTP)
Before we list the ETFs that posted sell signals, we think it’s important to note that many energy ETFs look ready to rollover. While not 1 crossed the line into underperformance territory, almost all of them have one foot right on the line. If oil falls much more – say $65 a barrel – we would expect next week’s ETF screener to be full of energy ETFs on the sell side.
This week’s sell signals include:
- iPath DJ AIG Agriculture TR Sub-Idx ETN (JJA)
- iPath DJ AIG Grains TR Sub-Idx ETN (JJG)
- iPath DJ AIG Cotton TR Sub-Idx ETN (BAL)
- Internet Infrastructure HOLDRs (IIH)
- PowerShares Buyback Achievers (PKW)
- Consumer Discret Select Sector SPDR (XLY)
- PowerShares Dynamic Mid Cap Value (PWP)
