I'm Long Emerging Markets

Published 02/17/2016, 03:53 PM
Updated 07/09/2023, 06:31 AM
SPY
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MSCIEF
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While iShares MSCI Emerging Markets appears to be mimicking the ES (N:SPY) pattern off of the Jan. 20 low, it is, in fact, exhibiting a relatively stronger set-up than SPY as it heads for a challenge of initial resistance at 30.60/75 -- which if hurdled -- will trigger higher projections that point toward a confrontation with much stronger resistance starting at 31.60.

Notice that Wednesday's early strength drove EEM above its Nov.-Feb. resistance line at 30.00/05, which is a positive near-term technical development.

iShares MSCI Emerging Markets

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