Look Outside the U.S.? (MELI)

Academicians and stock historians love to tell us that we should trade globally.

Even though the U.S. stock market has dramatically outperformed every other market in the world lately, they tell us that, over time, it pays to look outside the U.S.

And this week we have a non-United States stock that is getting very close to a breakout level.

Here’s the chart:

MELI is a digital/tech company in Uruguay and it’s been rising the past few weeks. 

If it breaks above $2,161.75, we could see a nice run.

We’ll keep an eye on it.

Happy trading,

— Scott Welsh

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