Nasdaq Dorsey Wright

Within International Equities, Europe has been one of the most improved regions. For perspective, we wanted to take a look at First Trust STOXX European Select Dividend Index Fund (FDD).

Through the first part of 2017, International Equities has been the most improved asset class on a relative basis. Within the asset class, European markets have been among the most improved regions. In fact, just last week Europe Emerging overtook Latin America for the top spot in the sub-level of DALI. For perspective on this improvement within Europe, we wanted to take a look at the chart of the First Trust STOXX European Select Dividend Index Fund FDD. With action so far in 2017, FDD penetrated the bearish resistance line by breaking a double top at $12.50 in April. Since that time, the Fund has rallied up to the $13 level, which cleared notable resistance that was prevalent at the $12.75 level. From a score perspective, FDD recently cracked the 3 score level for the first time since its inception and now resides at 3.12. Those seeking yield based international exposure could consider FDD. At this time though, the Fund is trading in overbought territory and positions should be taken on a slight pullback in price between the $12.25 and $12.50 range. From here, initial support lies at $11.50, while longer-term support lies at $10.75.

Back to report

DISCLOSURE

**Unless otherwise stated, the performance numbers herein are based on price returns and do not include dividends or all transaction costs. Past performance is not indicative of future results. Potential for profits is accompanied by possibility of loss. First Trust has arranged with Dorsey, Wright to provide this specialized ETF page on the First Trust ETFs. The Point & Figure analysis, models and resulting rankings, including any information, data or commentary included therein, are created and provided solely by Dorsey, Wright & Associates. Such analysis, models and rankings should not be considered an offer to purchase or sell, or a solicitation of an offer to buy or purchase any security, including First Trust ETF shares. The examples presented do not take into consideration commissions, tax implications, or other transactions costs. Neither First Trust nor Dorsey Wright through this ETF page provide investment advice or recommendations regarding any security, fund or market. As the investment professional making the final decision with respect to allocations, including any related suitability, fiduciary or other legal obligation, please remember to adhere to all applicable laws, regulations and rules, including NASD Rules 2090 and 2111 (Know Your Customer). The percentage of the portfolio devoted to any ETF is at the sole discretion of the financial advisor or the customer, and not Dorsey, Wright & Associates or First Trust. If you are not familiar with Point & Figure methodology, we suggest you read “Point & Figure Charting, 4th Edition” by Thomas J. Dorsey and visit the PnF University, www.dorseywright.com. If you are not familiar with the First Trust ETF product, or Exchange Traded Funds (ETFs), we suggest you visit www.ftportfolios.com.