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Since the calendar flipped over to 2013, the
S&P 500 has rallied 15%. Other countries haven't had quite the same upside over the course of this rally: the Euro Stoxx 50 is up a meager 4.8%; Korea's KOSPI is down 3.2%; India's Sensex has dropped 6%; Brazil's BOVESPA has sunk more than 15%.
One of the few exceptions has been Japan, with a 34% rally in the Nikkei 225 year-to-date.
According to the latest data released on Tuesday morning from the OECD, emerging economies are showing more sluggish economic recovery than more established countries are. A quick look at market performance anytime this year would've told you the same exact thing.
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But that shouldn't stop you from trading foreign stocks in 2013. That's why we're taking a technical look at
five foreign stocks to trade for gains this week.
For the unfamiliar,
technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution.
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So, without further ado, let's take a look at
five technical setups worth trading now.