iShares MSCI Emerging Markets ETF

  • EEM

  • $42

  • +1.03%

  • $42

  • $42

  • $42

Ticker Appearances

Thu, February 22, 2024 | 3:53PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
Thu, February 22, 2024 | 3:53PM ET
Emerging markets have slowly but surely joined the Rally party, and much of this is China related after 4 of 5 weeks of gains off the lows. EEM is set for its highest weekly close since last Spring. While some structural progress remains to expect a large intermediate-term rally (and this will involve USD rolling over) i expect EEM 1.03%  to rally to $41.50 from current 40.63, around 2.5% but no real resistance here after this breakout and i expect this to push even higher near-term. In bigger scheme of things, above $42 is a longer-term "green light" signal for EEM and Emerging markets in general.
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^Prices as of 2024-07-26 16:15:15