Emerging Markets ETF 5 wave impulse is also carving out a wave (3) top. We are looking or the immediate wave (5) to fail into 44-46 level setting up for a wave (4) consolidation that would set the tone for EEM into Oct 20’
As COVID-19 Cases start to ease globally, markets are responding with a breakout higher. EEM (MSCI World Index ETF) has recently broken out above its $41 resistance level and consolidating today, providing a good risk/reward for a long position. With a Weekly Chart that has broken above its channel resistance and Daily Chart breaking higher, we are targeting $44...
Earlier I posted maps for EEM consolidation (see related).
This last sharp move makes me thinking of a completion of the correction.
Then we got the contracting flat WXY.
Triangle could be the next alternative ABCDE.
Target will be at 75 then.
This chart forms part of a larger research note. None of the information posted here (TV) should be considered financial advice.
On a relative basis, safe-havens have out-performed risk assets for the past week. This is highlighted by the relative chart, using our custom Global Safe-Haven Index (SHIX) versus the S&P500 E-mini Futures (as a wide proxy for risk...
Price action of the last few weeks has really opened up all sorts of possibilities regarding chart patterns going forward. Is this count possible? It suggests that while there is still room for further decline in this index this could be followed by a pretty decent uptrend.
If you're looking to get short the equities market, EEM may be a good place to start. Emerging Markets are testing the previous support trend line. This should now act as resistance. It's worth waiting to see if this hammer candle gets follow through or if it turns into a Hanging Man.
Closed higher than Oct bottom, possible bearish pattern after filling gap at 43.5 . indicators corrected and reversed in good shape to bounce back up to near missed gap . target bounce in range 7-10% .
Traders & Investors,
We anticipate emerging markets to be vulnerable to a macro slowdown following the virus outbreak in China. Emerging Markets have a high dependency on Chinese demand and consumption which often creates a very strong correlation between domestic activity/trade and the performance of these markets.
The effects of the virus are prominent with...
It's been down for nearly 10% and still no sign of recovery.
With the global stock market going on a freefall, EEM will not be spared as well. So, cheap can get cheaper.
Trade safely, always use a SL and employ appropriate risk and capital management.