Since mid April the emerging mkts ETF EEM made a double top and is now headed south. Key support is at 36.20 and if that breaks it could preface a nice bear move in our market. minus DMI has taken over, very bearish.
China too, with the FXI, if it breaks below 36.24 we could see a nice run down. It actually rolled over in January and merely bounced back to the LRC line then has been selling off for the last 5 weeks.
Tuesday, May 18, 2010
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