Emerging Market Equities – A key test
Emerging market equities (EEM) are brushing up against key price resistance. This resistance line is very important, as it already failed once… and it previously served as support. A breakout will open up the next wave up.  (However) Relative performance vs the S&P 500 is trending down and diverging, which suggests a bearish bias, but again it provides an important line in the sand.
Overall technical view: Skeptical, but an upside breakout will be very bullish
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