Don't get caught by Emerging markets current euphoria (EEM)Current rise in emerging markets could be temporary as it is a pullback
after a breakdown below the support of consolidation.
To resume down the price should break below blue support.
EEM trade ideas
EEM(daily). Possible Shark, KoD, WW tgt, at support.EEM(daily). Possible Shark, KoD, WW tgt, at support.
RSI bullish div, develop.
EEM - Short - $40 targetEEM which can be thought as "Emerging Markets" looks fucked to me.
Short this.
Baring a sudden trade deal this week (unlikely), EEM could see sub $40.
The puts I purchased last week have already doubled in value. :)
From a TA standpoint, let's review.
Price is below the green line (bearish) but bounced off support in the last 10 minutes of the trading day.
Thank you algo panic buying.
The price could also find support at the .618 line or $40.62 but the .786 price of $39.47 lines up rather neatly with the supporting trend line.
Time frame: end of the month, possibly by 5/17.
EEM ETF: Lower long term Buy opportunity.The iShares MSCI Emerging Markets ETF (EEM) is on bearish 1W price action (RSI = 41.481, Highs/Lows = -1.8644), repeating a pattern last seen in April 2011 - May 2012. During that period the price was rejected at 44.90, crossed below the MA50 and MA200 and found support just over the 0.786 Fibonacci level before recovering 100%.
We expect a similar price behavior today as the price was rejected at 44.85 and has already crossed below the MA50. The crossing below the MA200 remains and the rebound above the 0.786 Fibonacci retracement level, which puts the support around 39.50 - 39.60. Our target is 44.80.
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Watch EEM for a risk on move globally3/May/2019 09:18 PM
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If global markets are going to continue rallying, EEM will likely push to the past highs. With IWM breaking out I would think to look to EEM as well and see how it is holding up.
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I wouldn't be surprised if EEM is just made up of Chinese internet companies though.
EEM bullish 6 month- 1yearEEM has fully broken out of flag formation and of the next months will rise completing the 5th wave!!!
Good news out of China, EEM Should be Up TodayEEM is mostly made up Chinese A-shares meaning this ETF is primarily dependent upon data coming out of China. Recent data is quite promising while the US-China trade war negotiations continue to show positive developments. Exports data coming out of China is positive this morning, moreover the US will not keep on putting pressure on China politically according to Bloomberg. Also, data suggests the trade surplus increases while credit growth beats estimates. Could see 3 to 6 percent increase in Shanghai on Monday if all else is equal.
Bottom line is EEM could be up maybe 1 percent today given the positive news and sentiment coming out of the Middle Kingdom.
Barrier Triangle in EEM?If a long term triangle, then a quick & massive thrust higher should follow after the wave E completion.
EEM: The Emerging market had been correcting much longer than the US market. They probably bottomed at the same time.
EEM - SELL - CORRETIONElliot count finished, could see a retrasement to de golden zone between 382 and 618.
EEM Call Front RatioExpiry: 18/Apr
B 42.5 C
S 43.5 C x2
$0.25 Credit
POP 76%
No downside risk.
Need to pin it at 43.5
iShares MSCI Emerging Markets ETFAMEX:EEM
Double bottom in place, confirmed looks like more upside coming all the way to 46.50
EEM Resuming Bull Market Started in 2016Emerging Markets (EEM) seem to be resuming the bull market that started in early 2016.
1) Recently broke out from downward channel
2) Broke out from alternative shorter term negative trend line
3) Is in the track to end the week confirming a bullish pivot, surpassing the last short term top.
Medium term objective is last major top the occurred in jan 18.
Long term objective is a major long term impulsive move with similar magnitude and duration of the jan 16 - jan 18 uptrend move.
Stop at the same level the EEM completed its pullback to the negative channel.
