Big Breakout to New Highs in Emerging Markets EEM
Fri, Jul 14, 11:51 AM ET, by Corey Rosenbloom
If you’re only watching the US Indexes like the S&P 500, you may have missed Wednesday’s and Thursday’s bullish breakout in Emerging Markets (ETF symbol EEM).
Let’s take a look and see what’s happening in this lesser-watched market:
While the S&P 500 trades just beneath its all time high – and the US Dow Jones Index did push to a new all-time high – shares of the Emerging Markets ETF (EEM) pushed through the $42.00 per share barrier to a new multi-month high.
The last four trading sessions have been resoundingly bullish on higher volume and momentum.
Price broke through the upper boundary of a sideways rectangle at the $42.00 pivot.
The uptrend continues with shares of the ETF breaking out.
Continue following this development and relative strength in action.
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Afraid to Trade.com
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Corey's book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).”
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