The Emerging Market and BRIC ETF's are both at crucial junctures.
EEM: Resting on a trendline after having completed what seems like a Ist and IInd wave down. If the trendline breaks we get a fully formed head and shoulders. The breakdown in 2008 also came from a similar formation.
EEB: This poster boy of the last bull run is sitting at the neckline of a head and shoulder pattern that has taken 4 years to form. In addition it looks like it is already forming a 3 of a larger IIIrd wave.
Considering the precarious position the S&P 500 is in, any sort of macro surprises would be capable of breaking down these markets in a big way!
EEM: Resting on a trendline after having completed what seems like a Ist and IInd wave down. If the trendline breaks we get a fully formed head and shoulders. The breakdown in 2008 also came from a similar formation.
EEB: This poster boy of the last bull run is sitting at the neckline of a head and shoulder pattern that has taken 4 years to form. In addition it looks like it is already forming a 3 of a larger IIIrd wave.
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