Back on May 22nd, I noted on this blog that if the iShares Emerging Markets ETF (EEM-US) cracked $35.50, it would be a bullish chart. This neckline was recently broken – completing a bottom head and shoulders pattern for the Emerging Markets Index ETF.
Old support at around $38 will create a level of resistance, followed but the old ceiling of around $44. These are solidly attainable targets for this ETF.
You can also see that the iShares Emerging Markets Bond ETF (EMB) broke out nicely from a 3 year base. The history on this ETF goes back to 2008, and there is no overhead resistance (old highs or consolidations) ahead of the current share price that might inspire pause in the current price trajectory.
At this point, it would appear that all systems are go for the Emerging Markets stock and bond indices, and their respective ETF’s. I covered this sector and others, in a special video presentation for Canadian MoneySaver Magazine called “Fallen Angels”. I posted the video on this blog about a month ago.
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Keith’s topic: Have your cake and eat it too: Playing the risk/reward trade-off.
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