Tackle Today: Emerging Markets are Trying to Bottom
November 7, 2022
«Friday hosted a powerful rip.»
Emerging Markets are percolating. Heaven knows they need some love. Thanks to the surging U.S. dollar and a risk-off attitude gripping investors this year, the Emerging Market ETF (EEM) fell 43%, returning to the pandemic low.
The performance has been horrible.
But no broadly diversified ETF goes down forever. Eventually, valuations fall low enough to attract bottom fishers. We’ve had many failed rallies along the way, and this could certainly be another one, but Friday’s rally demands attention. EEM jumped over 4%, with over 70 million shares changing hands. It was the most-active session since May 31st, delivering the first 50-day moving average test in six weeks.
Put it on your radar to see if the constructive price action continues.
Video of the Day – Frank’s Charts: Hot Potential Swing Trading Picks
Watch this clip with Coaches Frank and Matt where they share a few charts and discuss potential Swing Trading Picks $RJF $MRK
Chart of the Day: Emerging Markets ($EEM)
EEM sailed past resistance on Friday and is trying to carve out a trend reversal.
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