Friday, January 31, 2014

Emerging Market ETF Has Stabilized For Now

Above is a chart of the emerging market ETF.  While it has broken the 200 day EMA and pulled the lower EMAs through the 200 day EMA, prices appear to have stabilized around the 38 level.  Finally, the sell-off has occurred on higher volume.

However, notice the declining momentum and negative CMF reading.  This ETF won't be making a strong relief rally anytime soon.