Below is a Weekly chart of PHO. Overlayed on the chart is a regression channel which begins where this ETF found support in March of 2009. Price has recently dipped its toe just below support at 18.68 which was established in December 2010 and is attempting to cling to this level like a big fat drip. The 50sma (red) lies just below at 18.26 and is providing support at the moment...this moving average crossed above the 200sma (pink) in mid-April this year. This ETF has basically been trendless and has been consolidating since January of this year. Should price drop further, it could find support at 17.55, which co-incides with the -1 deviation of the rising regression channel, as well as the 200sma (currently at 17.52). Should price rise, it would need to clear above the channel "mean" at 20.00ish and above the next resistance level of 20.61 in order to resume an uptrend.
Of all the water on the planet, only 2.75% of it is from fresh water sources...including 2.05% frozen in glaciers, 0.68% as groundwater, and 0.011% of it as surface water in lakes and rivers: http://en.wikipedia.org/wiki/Fresh_water
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. July 18 @ 2:00 pm ET ~ Beige Book Report
* Wed. Aug. 1 @ 2:00 pm ET ~ FOMC Announcement
* Fri. Aug. 3 @ 8:30 am ET ~ Employment Data
* Fri. Aug. 10 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Aug. 22 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Mon. Sept. 3 ~ U.S. markets closed for Labour Day Holiday
* Wed. Sept. 26 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events
IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance