Let's notice that at yesterday's low the iShares Emerging Markets ETF (AMEX: EEM) was 10% of its October low, compared to the SPY's, which at yesterday's low were about 1.8% off of October low. In addition, the pattern carved out from the Oct 27 low at 18.90 to the 27.63 high on Nov 4 exhibits a very bullish structure, which was followed by a correct pattern into yesterday's low. Taken together, my pattern analysis suggests strongly that the EEM has entered the very early stages of a new upleg that has as its first target a test of the November resistance line now at 24.75.
The Mid-Day Minute
Emerging Markets ETF Starting New Upleg?
Fri, Nov 14 2008, 06:16 GMT
by
Mike Paulenoff
- MPTrader.com
|
View company's profile
About this Report
MPTrader.com
info@advicetrade.com
Archive
-
Apple Due for Profit-Taking
Fri, Feb 10 2012, 05:10 GMT
-
Big Cap Tech Stocks to Watch
Thu, Feb 9 2012, 04:57 GMT
-
Bullish Digestion for Gold, Euro
Tue, Feb 7 2012, 04:42 GMT
-
VECO on the Move
Mon, Feb 6 2012, 04:51 GMT
-
Promising Technical Set-Up for ORCL
Thu, Feb 2 2012, 05:03 GMT
Advertisement







