Short candidates: FXI, PPH, ICE, ACH, TTEC

Why… Corrections are natural. I don't expect this one to go beyond the well-established 50day EMA.

Shorting theme: US-focused companies, little manufacturing or sales overseas

iShares Trust FTSE China (NYSE: FXI): Will be most damaged by the coming G7 meeting. Yuan devaluation will be a top priority on everyone's list.

Pharmacl Holdrs Tr Dep Receipt (NYSE: PPH) : Strong appreciation in the face of the fact that all DC politics have turned against them, no currency exposure to save them.

IntercontinentalExchange ( ICE ): Bubble-like runup. Overbought on every measure.

Aluminum China ( ACH ): Double-top, Overbought, will suffer from trade talks. You'd be lucky to get any shares on this one though.

Teletech Holdings (NASDAQ: TTEC): Sitting on a spike. Just announced.