Since my last post on the subject on April 21st, both emerging markets and BRIC have both gone up for half the month and then down for the rest of the month.
EEM: now has a smaller right shoulder formed yet again on the same trendline.
EEB: Back to the trendline, yet again to decide its fate.
The only word of caution is that it looks like the S&P 500 might gain some strength and if it makes new highs both the EEM and EEB will make final moves upward and possibly even new highs (EEM 45.39, EEB 37.14) before they collapse below these trend lines.
EEM: now has a smaller right shoulder formed yet again on the same trendline.
EEB: Back to the trendline, yet again to decide its fate.
The only word of caution is that it looks like the S&P 500 might gain some strength and if it makes new highs both the EEM and EEB will make final moves upward and possibly even new highs (EEM 45.39, EEB 37.14) before they collapse below these trend lines.
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