One overseas play would be attractive if it cracks this level, analyst says after S&P's best August in decades

He pointed to the FXI's long-term consolidation pattern, noting that it has yet to break above its highs from 2008."Until we break above 50, we're still in a logjam," Gordon said. "So, wait for the fundamentals or valuations, as compelling as they might be, to marry up with the technicals. Use that technical breakout if you want to do so."

Quint Tatro, founder and chief investment officer of Joule Financial, agreed that "if you're looking at the comparative analysis between ... the domestic markets and overseas, I would always choose the domestic markets." Buying emerging or other overseas markets expecting them to start outpacing the U.S. has typically "been a very difficult and trying bet," Tatro said.

TradingNation Yan v Yen

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nasdaq ends higher while S&P 500 posts biggest August gain since 1986While the S&P boasted its steepest August percentage gain in more than three decades it ended Monday slightly lower and the Dow also lost ground as investors took a pause although the Nasdaq closed higher thanks to high-flying stocks including Apple Inc. * 7% government subsidized growth from $2T bailout We're all rich! When the bandaids get ripped off, the gaping wounds underneath are going to be ugly and festered. SmokeAndMirrors
Source: Reuters - 🏆 2. / 97 Read more »