For the past few sessions, I have been awaiting a pullback in the Taiwan Index Fund (EWT) into the 12.80/70 area from 13.24 to add to an existing long position.  However, based on my near-term work, this week's (actually today's) pullback to 1285 appears to be complete and a new upleg is already in progress that should propel the EWT towards 14.00 next target.

Mike Paulenoff is a 25-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his E-mini S&P and QQQQ technical analysis and trading alerts. For more of Mike Paulenoff, sign up for a FREE 30-Day Trial to his E-Mini/Index Futures diary, or try his QQQ Trading Diary.