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We established one new long position in the SPDR S&P Homebuilders ETF ($XHB) on Friday. Our breakout buy setup in the iShares MSCI Singapore Index ($EWS) did not trigger, but we’ll continue to monitor the action for a potential pullback entry off support of the 20-day EMA (if it gets there). Another potential pullback entry we are monitoring is in the WisdomTree India Earnings Fund ($EPI). $EPI broke out from a tight four week consolidation (or handle) on a nice pick up in volume, which is a bullish sign. The tight consolidation held above the 20-day EMA before breaking out on January 2. We are looking for a three to five candle pullback that finds support somewhere in the 19.50 area. $EPI does not have to pull back at all and could simply just go sideways for a day or two before resuming its uptrend.

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