Fire And Fury? Not today!

No Fire.  No Fury.  Not today anyway.

I took a look at the chart of the ETF for the South Korean stock market today.  EWY.   I chose South Korea as any war on the Korean peninsula would be catastrophic for their people and economy.

Here is what I see since the last announcement from both Kim Jong-un and Trump.  

1.  The market (EWY) has pulled back from its high by about 7%.  Down 3.57 % this week so far.

2.  The pullback has not reached any concerning FIB retracement line or moving average.

3.  The slopes and trend lines for some common intermediate moving averages are all up!

4.  Volume is average and we would expect it to be very high on significant war concerns.

Could this change?  Sure.  But today this looks like a normal pullback on bad news not a massive rush to the exits.  That would happen if an attack was coming any time soon.

In fact, this is EWY's 10th pullback of more more 6% in the past 24 months.  And yet the price is up 54% during the same time frame.  

Volatile?  Yes!  War? No!

No Fire.  No Fury.  Not today anyway!

Chris Vig is president of The Vig Company and is an investor, artist, author, business consultant and former CEO living in Monona, WI. This article is for entertainment purposes only.  Do you own diligence when investing your hard earned cash.