Today’s ETF Spotlight is on the iShares MSCI Europe Financials (EUFN). Last time we highlighted it was on January 9 when it was attempting to break out above multiple highs from 2011 and 2013. While that breakout failed, it did not lead to any significant decline. Rather, it has formed an ascending triangle since that time. A week ago, it broke out above the triangle and has come back to test that level now.

This would seem an ideal entry point for EUFN as it should either bounce from near this area or, if it fails, a logical stop loss point is close by.

Again, this is not a recommendation to buy or sell anything. Please do your own due diligence when considering investments.