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ETFs , Asian Markets

Global “Opportunity” with TAN: “Solar Ends Its Dark Ages”

See how an Elliott wave triangle price pattern meant opportunity for investors into this ETF

by Bob Stokes
Updated: January 16, 2020

Classic chart patterns become "classic" for a reason: They work.

One of them is the triangle, and is described in EWI analyst Jeffrey Kennedy's Trader's Classroom:

A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves...

One of the various types of triangles is the contracting triangle, which you can see in this April 2019 Global Market Perspective chart of the Invesco Solar ETF. It has the NYSE ticker symbol of TAN. At the time, our analyst said:


Solar ends its dark ages. [TAN] has completed a [bullish] contracting triangle since its 2008 high. That should now [mean opportunity] to investors.

Bullish, indeed.

Let's fast forward to the recently published January Global Market Perspective to see what's occurred since that bullish forecast. Here's a chart along with the commentary:


Our April 2019 issue pointed out that the Invesco Solar ETF had ended a contracting triangle from its 2008 high at its November 2018 low. The ETF has since completed an initial impulse wave up.

Yes, when our January Global Market Perspective published, TAN had climbed more than 30% since our bullish forecast in April.

Also in our January Global Market Perspective, you can learn about "Three Ways to Play China" using ETFs. Plus, in the Asian-Pacific section alone, you'll find analysis of 12 individual stocks, including casino stocks in Macao and Australia.

Right now, our global market analysts are using technical analysis to spot even more opportunities in 40+ markets worldwide, and you're invited to see for yourself with no risk for 30 days.

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Open Your Eyes: Worldwide Financial Opportunities Await

You can team up with our global Elliott wave experts. They constantly scan the globe for high-confidence chart setups that others may miss.

For example, in the Asian-Pacific section of our January Global Market Perspective alone, you"ll find "Three Ways to Play China" using ETFs. You"ll also get useful analysis of 12 individual stocks -- such as Tesla and several casino stocks in Macao and Australia -- and so much more.

Our analysts also provide detailed coverage of other parts of the world, including the U.S. and Europe.

Yes, each monthly issue of our Global Market Perspective is jam-packed with actionable information about global stocks, rates, metals, energy and more.

Let our highly experienced analysts do the work for you as they search for opportunities in 40+ different markets.

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