I am honored that one third of this blogs viewers come from outside of the United States. Of late I have received numerous email requests from the international viewers, to update the look of the Emerging markets. See below…
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Of late EEM has broken a multi-month rising support line and maybe of greater importance the Brazil ETF (EWZ) has broken a support line that has been in place for the past 9 YEARS!
Back in May, the “Power of the Pattern” was suggesting that no matter where you lived, the patterns at hand suggested a two-thirds chance that markets would move lower, on a “Global Basis!”(see post here).
At this time the Power of the Pattern is reflecting the same concerns today, as it did back in May…”Capital protection” at this time is the key long-term macro strategy at hand! Some day these patterns will reverse…the reversal though lies on the shoulders of the $. Until the $ reverses its latest move, EEV should do well for a while!