EEM (Emerging Markets ETF) Outlook on September 24, 2014

The Emerging Markets ETF (EEM) is trading at a 4-month low. Next huge support will come from the 200-days SMA @ 41.71. As we can see on the two year chart below, 44 is a big resistance stemming from the 2013 high, while 43 is the level of the intermediate highs from May and October 2013. The ETF is on a huge W-shaped move, but its price is practically unchanged over the last two years despite all the volatility and big trends it has been on.

EEM ETF, daily chart

EEMdaily20140924

Chart courtesy of http://www.stockcharts.com

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