EEM Hits Intermediate-Term Downside Target Zone, Time To Take A Look

Published 01/13/2016, 12:09 AM
Updated 07/09/2023, 06:31 AM
EEM
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MSCIEF
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In the enclosed chart we discussed about the BIG picture of the iShares MSCI Emerging Markets (N:EEM) at the end of July, 2015, when EEM was around 37.00, and when my work pointed to a potential plunge to 30.00.

Yesterday, EEM hit a low of 29.23 amid a glaring, weekly, positive-momentum divergence that at the very least is "warning" us that the EEM likely is nearing downside exhaustion from its May, 2014, high at 44.19.

I want to get my big toe in the EEM waters in and around current levels (29.70/80).

EEM Weekly 2007-Present

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