Update On Italy
Markets were hit by a selloff driven by rising yields in Italian bonds over political issues about whether it would stay in the European Union and with the Euro.
Such fears seem overblown and markets should recover in short order.
With rising Italian yields, we thought it made sense to look at a chart of Italy via iShares MSCI Italy Index Fund ETF (EWI).
The weekly chart shows support at $27.50. A break of this level would concern us. For now, it seems this level should hold.