There was no change to the Franklin International Rotation Model this week, so we look at the Franklin FTSE Mexico ETF (FLMX).

There was no change to the Franklin International Rotation Model this week.

Latin America remains one of the biggest improvers this year within the international equity space. Last week, we highlighted the strength of the broader region looking at the Franklin FTSE Latin America ETF (FLLA). Those looking for more focused exposure could look towards exposure to Mexican equities, which have been on a hot streak over the last several months.  The Franklin FTSE Mexico ETF (FLMX) now holds an extremely strong fund score of 5.56, which is 0.53 points higher than the average emerging market equity fund. The fund has seen a significant increase in strength over the past six months, demonstrated by its sharply positive score direction of 3.40. Looking at the trend chart for FLMX, the fund is on a string of three consecutive buy signals and has traded in a positive trend since April of this year. The fund also holds both near- and long-term relative strength versus domestic equities with it sitting in a column of Xs and an RS buy signal on its RS chart versus the S&P 500 Equal Weight (SPXEWI). FLMX has pulled back in recent weeks, reversing down into a column of Os, leaving it in actionable territory for those looking to buy now. From here, initial support for the fund lies at $31.50 then $28.50, with the bullish support line at $26.