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!!!