EEM the emerging market index ETF. there are two possible routes at this point. It is the moment of truth for this sector. Monthly breakout now retesting the break out TL. If it breaks below the trendline this month, it will go straight down, auch, brutal. However, I see this is low possibility, because I can see SPY bouncing (see my other post). So I would expect EEM take a break and go higher from here (just pray dollar dont go to the roof). After a bounce, we may well go straight down as we are in the 9th inning of the cycle.
Comment:
As of today's sell, EEM needs some magic to turn around.
