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We had a busy day in the ETF portfolio, with $KBE, $RSX, and $KOL triggering long entries. We do not plan on adding new long positions unless a winner is sold or we sell a slower moving position to make room for a potential breakout. However, we do plan on adding to existing positions ($RSX and $EWT) should they move higher.The iShares FTSE/Xinhua China 25 Index ($FXI) is consolidating near the highs of the last move. Ideally, we would love to see some sort of false breakout action, followed by a selloff to the rising 20-day EMA somewhere around 41.00. Whether it continues to hold near 42.00 or pullback, we feel that $FXI needs another week of sideways action to produce a decent base. It is only 13 days into its current base, and we prefer to see at least 15 to 20 days of basing action before a breakout.

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