The Guggenheim Shipping ETF (SEA) Ready To Move Significantly Higher

Morpheus Trading: On December 20, we purchased Guggenheim Shipping ETF (NYSEARCA:SEA) at $20.39 on a base breakout. On the chart below, note the big volume over the past two weeks:

The strong volume confirms the recent breakout and signals that $SEA may be ready to move significantly higher through the first six months of the new year.

Along with $SEA, Nikkei 225 Index ETF ($NKY), PowerShares Golden Dragon China ($PGJ), and Global X FTSE Greece 20 ETF ($GREK) have formed bullish chart patterns. We recently bought $PGJ in the ETF portfolio on a downtrend line breakout above the 50-day moving average.

After a four-month rally off the lows, Market Vectors Coal ETF ($KOL) stalled at resistance of its declining 40-week moving average. After a few weeks of chop, $KOL also broke the uptrend line of the rally and closed below the 10 and 40-week moving averages.

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