We Remain Long EEM in Our Model Portfolio. EEM Continues to Exhibit Relative Strength During 2016...

While iShares MSCI Emerging Markets (EEM) appears to be mimicking the ES (SPY) pattern off of the Jan 20 low, in fact, it exhibits a relatively stronger set-up than SPY as it heads for a challenge of initial resistance at 30.60/75, which if hurdled, will trigger higher projections that point towards a confrontation with much stronger resistance starting at 31.60.

Let's notice that today's early strength has popped EEM above its Nov-Feb resistance line at 30.00/05, which if preserved into today's close, will be positive near-term technical development.