EEM (Emerging Markets ETF) Outlook for November 3, 2014

The Emerging Markets ETF (EEM) had a second upweek in a row after a long time, getting above its 200-day MA again, which is very positive. A close above 43,50 may signal the start of the market reversal.

EEM ETF, daily chart

eem

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

Among individual emerging market indices, China’s Shanghai Composite and India’s CNX-100 have a nice technical picture, while Russia’s RTSI and Brazil’s Bovespa lag, but rebounded nicely in the last few days.

China SHANGHAI COMPOSITE Index, daily chart:

3shanghai

India CNX-100 Index, daily chart:

4CNX100

Charts courtesy of http://www.investing.com

Russia RTSI Index, daily chart:
2rtsi

Brazil BOVESPA Index, daily chart:

1bovespa

Charts courtesy of http://www.investing.com

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