Choice of index is key. When I worked at a fund that was very active in Japan of course we were constantly looking at the Nikkei, Topix and $USDJPY. But in my own retail brokerage account I cannot so easily buy Nikkei; instead the choices are EWJ and the currency hedged DXJ. One should prioritize the index where your money is going, and be aware of others that may impact.
Another example is India. The Nifty 50 Index is sitting on monthly 20MA support, but due to currency issues the INDA ETF is well under a sharply falling 20MA. If I want exposure to India is through the ETF, so I think better to look at that instead of the index. That said if a currency hedged version appeared then given under-performance of ETF relative to index then that would likely be a better alternative.
The list goes on and on but you get the point. I'm going to keep to what I usually track because that is what I can buy: SHComp, FXI, EEM, INDA, RSX, EWZ, and the broad ACWI functions like an NYA / VTI.
Sum: China looks like trouble, INDA the better choice for longs among FXI and EEM; RSX very strong but at resistance, and EWZ mixed.
Ready to resume down.
Above rising 50MA, below falling 20MA. I would bet on lower.
Below 10 and 20MAs with quarterly MACD on sell.
MA cluster pushed down and pivots broke - simple reasons for shorting. It worked.
Below MAs and on MACD sell.
Below falling MAs, but smaller red bar may have better chance at lift than FXI.
Small red bar and below MAs. Still proximity to recovering M50MA makes this better choice compared to FXI or EEM.
Rally to near 20MA.
At falling 50MA, a reason I thought better to cut.
Below falling 20MA but 2 closes above 10MA helps.
Resistance near that falling 50MA.
Small up bar with wick invites selling.
Also looks ready to drop.