Welcome to yet another new look for nftrh.com. I like the crisp, clean look of the thing and hope you do too. I actually changed the theme because images simply were not doing what I wanted them to do with the old style. Now they are doing exactly what I want and the coolness of the site (in my opinion, anyway) is a bonus. Moving on…
EMs are in a bull market say those who arbitrarily assign that label to a market that has risen 20% or more off its lows. This Inverted H&S pattern has been showing up not only in the EMs, but also in Asian markets and many individual stocks, often (but not exclusively) commodity or resource related.
NFTRH+ ID’d the bottoming pattern on July 13 just as EEM was nudging above its neckline. It has gotten through what I thought could be its most challenging resistance but as you can see, there is a lot more resistance (red shaded) all the way up to target (43). It’ll be a rough ride and it will be interesting to see who wins out, the overhead resistance or the IH&S pattern target.
Similarly, Asia (ex-Japan) has broken its neckline as well. There is resistance, but less of it on the way to target. I prefer to keep Japan in its own box. So this fund works well.
Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com. Also, you can follow via Twitter @BiiwiiNFTRH.