I started to believe that as yield trends are changing globally, and yields will likely be lower in 2024, while I expect USD to trade rather a little weaker, this all should help Emerging Market Stocks to reverse and start to show a better relative performance against SPX and DAX.
Key technical levels to watch are 40.20 and 42.
A close above 40.20 would strengthen bullish bias, while a close above 42 on a weekly basis would also confirm a long term bullish trend.
I see better risk/reward in Emerging stocks from these post covid era levels, than for US or European markets.