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Five ETF Plays for a Short-Term Reversal

By Deron Wagner

About this article:
Consolidating in a tight range after their large gains of Oct. 28, the main stock market indices are again trying to form at least a short-term bottom. Previous bullish reversal attempts this month have quickly failed and led to new lows, but market internals and individual chart patterns are slightly better this time around. In case the stock market actually gets some legs and follows through on this counter-trend reversal, here is a list of ETFs on my radar screen for potential short- to intermediate-term plays. CurrencyShares Japanese Yen , which I initially pointed out on Oct. 9, has definitely been the strongest ETF of the past month (aside from the inversely correlated short ETFs). In case you missed previous entry attempts, FXY is now pulling back to support of its 10-day moving average, after last week's breakout to a new all-time high. This will likely develop into...

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