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The India ETF (EPI) formed a multi-month flag pattern, broke support and the rally over the past few weeks has it kissing the underside of the flag pattern as resistance at (1).

If EPI fails to get back above resistance, I would want to protect any long holdings in this ETF, due to selling pressure could well increase.  Should EPI slip in price, it should ripple into the price action of other Emerging Market countries and EEM & FXI as well!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past