If you have been following me recently you know that I have been pounding the table on emerging Markets.
With another full month in the books you can see that EEM has yet again held at the most important spot in the past decade. Take a look at the chart.
The MAJOR level in emerging markets since 2008 is clearly the 41-42 dollar level as you can see there has been a war at these prices over the last 10 years. Well since I caled the generational low of the Euro and EEM at the beginning of 2016, I believe this is the first major pullback where you should start loading the ole boat. The setup does not get any better here. You ave a breakout and a pullback to the 100 month MA and now we have a hammer reversal on a monthly basis. This is a long term play and I am targeting in the 60's.
The best part about this is that is opens up the dollar crashing, and the globe, metals, and cryptos ripping.
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by heyimsnuffles
I agree with you that EMs may be reaching bottom. But I am approaching with caution as they could be the contagion that spreads through the market similar to the Asian crisis of 97. Your thoughts?
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