The other international ETF I like is the one that represents the large cap stocks of Brazil (EWZ). The chart here is similar to the China ETF. It has made a series of higher lows since making its November low, and technically looks capable of delivering a big break out.

Brazil has a relatively healthy economy, and is very commodity oriented. They are a low cost producer of oil and a huge producer of ethanol. If you want to own oil or the like, the Brazil ETF is a great way to do it, but mixes in other upside as well.

Brazil is not plagued with the same problems we face in the US, hence EWZ is trading far better than US equities over the last several months. I
first recommended EWZ at $35 on December 13th. Friday’s close at $34 doesn’t represent much of a move in the wrong direction, and there have been a number of blips much higher than $35- we’ve now seen $40 three times since making the call.

At today’s level, this one is a buy right now. Comments and Questions are welcome.