Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Breakout or Counter-Trend Rally in the EEM?


The time of truth for the iShares MSCI Emerging Markets (EEM), which by all accounts has broken out of its Jan-Mar base formation, and could be heading for 43.00.

Could be?

Yes, but first this “breakout” must be confirmed with a close above 41.10/30.

Otherwise, inability of the EEM to close above 41.10/30 will leave open an alternate recovery-rally pattern (upside swing move) that will complete in the vicinity of 41.10/30.

Should the EEM fail “up there” or lower, and then reverse back beneath 40.20, we will have reason to doubt the integrity of the upside breakout and the bottom pattern.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!