Entering Wednesday, EWG was down nearly 6% over just the past week. The $3.84 billion ETF holds 66 stocks, including a nearly 19% tilt to consumer discretionary names. Materials and financial services stocks combine for almost 35% of the fund’s weight.
“On a chart of the S&P 500 and the EWG, Gordon points out that EWG is coming down to retest the $31 level for a third time,” reports CNBC. “According to Gordon, a third retesting of this level means EWG could likely break below $31.”
GRMY seeks to track the Nasdaq Germany Large Mid Cap Index, which is designed to track the performance of the German equity market.
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