EEM (Emerging Markets ETF) Outlook for October 6, 2014

The Emerging Markets ETF (EEM) broke down below its 200-day MA last week, trading around 5-month lows. In case EEM rebounds it could find resistance in the 42,50/43 area. Only a weekly close @ 43 or higher will give hopes for a year-end rally. EEM has seen lots of volatility in the last two years, with a W-shaped move, but it is practically trading within a huge price range between 35 and 45 despite all that.

EEM ETF, daily chart

eem_20141003

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

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