Nasdaq Dorsey Wright

With no changes to any of the iShares models, we look at the iShares MSCI Germany ETF (EWG).

There are no changes to any of the iShares models this week. US equities remain at the top of the DALI asset class rankings; however, we continue to see strength from international equities, which remain well ahead of US stocks in terms of year-to-date performance. While much of the international market is now heavily overbought, there are still areas of strength that remain in actionable territory. One example is the iShares MSCI Germany ETF (EWG). EWG currently ranks fourth out of 46 constituents in the World ETF Matrix and has a strong 5.62 fund score, which is 1.07 points better than the average non-US equity fund. On its default chart, EWG has completed two consecutive buy signals since pulling back with the rest of the market in early April.

Although it currently sits at an all-time high on its chart, EWG remains in actionable territory on its 10-week trading band with a weekly overbought/oversold (OBOS) reading of 52% and has recently found support at $40.50. Year-to-date (through 7/23) EWG has gained 35.8% on a price return basis; the fund also carries a 1.6% yield.

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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. BlackRock sponsors the Dorsey Wright iShares ETF Models. However, analysis, models and recommendations are created and provided solely by Dorsey, Wright & Associates (Dorsey Wright). Neither BlackRock, BlackRock Advisors and its affiliates, nor SEI Investments Distribution Co. or its affiliates (SEI) are affiliated with Dorsey Wright. Neither BlackRock nor SEI provides investment advice or recommendations regarding any security, fund or market. Analysis, models and recommendations should not be considered an offer to purchase or sell, or a solicitation of an offer to buy or purchase any security, including iShares. The examples presented do not take into consideration commissions, tax implications, or other transactions costs. No individual risk management tools are used in maintaining this model. This model may not be suitable for all investors. As the investment professional making the final decision with respect to allocations, remember to adhere to NASD Rules 2090 and 2111 (formerly NYSE Rule 405, Know Your Customer). The percentage of the portfolio devoted to any iShares strategy, as well as final individual weightings are at the sole discretion of the financial advisor and not Dorsey, Wright & Associates, BlackRock or SEI Investments Distribution Co. or its affiliates (SEI) . If you are not familiar with the Point & Figure methodology, we suggest you read "Point & Figure Charting, 4th Edition" by Thomas J. Dorsey or visit the PnF University at www.dorseywright.com. If you are not familiar with the iShares products, or Exchange Traded Funds (ETFs), we suggest you visit www.ishares.com for more information.