Kumowizard

Will you Emerge or will you sink again?

AMEX:EEM   ISHARES MSCI EMERGING INDEX FUND
65 0 5
$EEM had a nice spike from the lows.

- So far it looks the swing up action was only enough to retest the broken bullish trendline and Kijun Sen.
- Ichimoku setup is still neutral, with bearish bias on forward Kumo.
- Price is close to a strong resistance at 33,40+
- haDelta/SMA3 crossed down (but it is above zero line)
- EWO             is still slightly bearish

The big picture is neutral. What you have to consider is that Emerging Market stocks were leading the recovery rally from the Jan-Febr lows. If markets in general are, or will be really bullish , I think $EEM should take the leadership again. Will it be the case? 33,40-34,00 zone and Price action here will soon tell us. :-)

Note: I had this idea about long EEM             , but I started to doubt it will be able to continue bullish . Anyway, don't listen to me, I may be wrong at any time. Listen to the chart setup, that is correctly showing the truth most of the times!
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