iShares MSCI Singapore Index ($EWS) has been in consolidation mode since mid-September. After finding support at the 200-day MA and rallying to but stalling at the prior high, the price action has pulled back to the rising 20-day EMA. We look always look for price action to tighten up within the base (this a bullish sign) and $EWS has done that over the past few weeks. $EWS may need another week or two of sideways action before it is ready to breakout, but if broad market conditions continue to improve this setup may be ready to trigger within the next few days. Please see the watchlist section above for trade details.