Is an “early bird gets the worm” situation taking place in EEM this morning? Last Friday morning, in the post titled “It’s a Small world” (see post), I mentioned that if a breakout was to take place in the international markets, Emerging Markets ETF (EEM) would be the first to break resistance, because it was pushing on it at the time.
The charts below highlight the fact that Emerging Markets ETF (EEM) along with the Brazil ETF (EWZ), are in the “early stages” of breaking resistance, dating back a few years!
It is early in the breakout, yet I would suggest that investors at least pick up EEM, with a stop at line (1).
A breakout of such a long-term trading range could be VERY SPECIAL!!!
Sorry I didn’t see your request on IFN and EWH…both have broken above resistance of late, look good. Would put a stop on the breakout line.
could you please post the charts illustrating the IFN and EWH ?
I tlooks like IFN ( India ) and EWH (Hong Kong) have also broken out to the upside.
This chart covers more than this year, the EEM chart starts back in 2007, which reflects a series of lower highs. That is what makes this important. It is good to break from high created this year, even better to break resistance dating back to the all-time highs.
All aboard…get your ticket for a fun ride!
Thx for the viewership and comements Mark,
this would be a very long term trade with the price reaching the top of its BB and a recurring history of fast drops from that point. Looking at your chart though gives the first impression of lower highs and lower lows. Using a different charting software there is clearly an uptrend since early this year. I would wait for the almost guaranteed pullback from here to enter though.