I Told You: I Ain't Got No Agua

I ain't got no agua, but I might have some other beverages from Mexico.

Mexico, using the EWW country ETF as a proxy, below on its daily chart, has taken a backseat to the strength in emerging markets of late.

To be sure, a tough-talking Trump has probably not helped the cause either, in terms of throwing cold water on investor sentiment as who-knows-what is in the pipeline for legislation regarding trade, etc.. 

Nonetheless, Mexico is perking up today, as the EWW pushes up and off its 200-day simple moving average (yellow line). There are a few individual ADRs I want to discuss with Members in my usual Midday Video as actionable trade ideas off this development. 

But you can be sure the Coca-Cola play KOF is one of them. 

Elsewhere, equities reversed up despite some continued choppy action below the surface. We are watching the $283 level on the SPY as an intraday reference point.