Chart of the Week – EEM

Here is my chart of the week. For everyone who likes Charts and signals I am going to be doing a chart of the week every week. 

The first one ever I think is a doozy. It is signaling something well before the market itself if it continue to play out. 

Emerging Markets – EEM

The Dollar was ripping higher, the Yen devaluing, gold ranking, and the Euro breaking multi year support. Then I noticed something.  

Emerging markets were breaking down then did something countertrend to everything that has led the charge. It bounced and bounced bigly. Look below, EEM has ripped off the lows putting in a double bottom and breaking trendline resistance. The RSI is very bullish, MACD crossover positive, and the 200 day MA held like a champ. 

This is very bullish for EEM, GLD, TLT, and bearish DXY and USDJPY. 

I said in my weekly closes that the USDJPY comes down now and EEM is looking very positive. 

I continue to bring up the possibility that consensus it wrong about the dollar, gold, bonds, euro. 

Reiterating my stance of bearish dollar, bullish euro, emerging markets (have been for a month), gold, and bonds. 


3 responses to “Chart of the Week – EEM

  1. Pingback: Dollar Bears are Coming Out to Play Ball – The Bears Last Stand | The Big Breakout·

  2. Pingback: I believe it may have began…Long the Pound and the Euro | The Big Breakout·

  3. Pingback: “Dollar Dumps on Trump ” – The Closing Prints – Weekly | The Big Breakout·

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