Since May, iShares MSCI Frontier 100 ETF ($FM) has been tightening up on the weekly chart, with each selloff from swing high to low retracing less than the last. When we examine a stock or ETF’s basing action, we always look for a tightening of the price action and a dry up in volume. If a pattern has these two things going for it then it’s in pretty good shape. Note the dry up in volume during the past three weeks in $FM vs. the 10-week volume average.

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