What will cause EM's to breakout? Last time it was QE.
Clear resistance and near term inflection point.
Comment:
Looking at the EEM we are heading into clear resistance.
One has to wonder what's going to cause the EEM to breakout? If we compare the last breakout period it was fueled by QE . Its difficult to think the current global market has the strength to breakout right now. Anything can happen if enough time of consolidation occurs but for now it looks poised for a pullback.
EM's have a correlation to the SPX / SPY
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One has to wonder what's going to cause the EEM to breakout? If we compare the last breakout period it was fueled by QE . Its difficult to think the current global market has the strength to breakout right now. Anything can happen if enough time of consolidation occurs but for now it looks poised for a pullback.
EM's have a correlation to the SPX / SPY