That's Not Paul Allen. Paul Allen's on the Other Side of The Room

Amid another appearance by Bill Ackman on CNBC today, it is probably not worth getting wrapped up in his most prominent positions, either bullish VRX or bearish HLF, in light of the many other opportunities this market is currently flashing. Both VRX and HLF, to my eye, are churning for now while Russia breaks to 52-week highs and Argentinian stocks are setting up nicely. 

We looked at GGAL yesterday, an Argentina bank. So now let's take a look at another one setting up right behind it. 

BBVA Banco Frances S.A, also based in Buenos Aires, is coiled rather impressively on its monthly chart, below. Note how the volume pattern tapered off after an initial buying surge into early-2015.

With this much time to digest that thrust, I am on the lookout now for a meaningful breakout higher. And when we considered the broad-bases strength in many South American countries of late, it makes the prospect of BFR to resolve higher all the more enticing. 

More on this and the broad market with fresh ideas in my usual Midday Video for Members.