The iShares MSCI Spain Index Fund ETF (EWP) broke below its March, 2009 lows this week. EWP is now trading at 8 1/2 year lows. This major milestone is more confirmation that we can expect another roiling summer full of eurozone headlines. I provide a weekly and a daily chart for perspective. Note how volume has surged over the last month or so as selling has accelerated. This does not bode well for EWP finding any support any time soon.
Be careful out there!
Full disclosure: no positions