BATS:RSX   VANECK VECTORS RUSSIA ETF
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All BRICs countries broke or breaking their uptrend resistance.
Nice chart!
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This means what?:)
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Algokid PRO charttrader
Hi Trader

For me , it's mean these countries, who are suppose to be the engine of the global economy , are not doing to well. They will most likely continue to under-perform the SPY for a while ( fall). I published a chart on EEM about 5 month ago. I was bearish on it, and it went down. It bounced back to it's 61 % Fib. line. I think it will continue it 's descent.
A Closer Look at Emerging Markets
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gogg Algokid
What a great call.
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gogg Algokid
I added SPY chart for comparison:
snapshot
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Cool, thanks. It is even more informative.
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Hi Algo, thank you for the details. Are you also expecting downtrend for SPY as most of the people here?
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Algokid PRO charttrader
For now , I believe the SPY will continue to go up till the end of this quarter. Q4 might be a different story however. I think earning will be weak, plus we have an election. in the latest Bloomberg poll , Investors expect Obama to win a 2nd term, but dislike the idea. So we 'll see how the market react.
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Nice point man, thanks!
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Hello Algo, I took your chart of the BRICs and switched it to a monthly frame(the bigger picture). None of them have broken the monthly trend line.2 of them are at support and the other 2 are actually pointing up just above support. What do you think? https://www.tradingview.com/e/HEVJ4YOg/
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Razvan nmike
hello nmike, your monthly charts should say the same thing, the trend lines are broken if you draw it on the first two throughs.
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gogg nmike
snapshot
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gogg nmike
nmike, i would agree with mahora. This is how it should be, please correct me if i'm wrong.
snapshot
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the overall BRIC index long term trend line support has not been violated
https://www.tradingview.com/e/ABKq9tcR/
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You raise a good point nmike. I suppose by looking at a longer time frame, an investor may keep his position open longer.
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Great chart, thank you very much. I'll print it and put on the wall:)
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