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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.


...If the dots don't connect, gather more dots until they do...




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Monday, April 09, 2012

BRIC Countries and EEM Update

Further to my post of February 27th, below are a series of 3-Year Weekly charts of the Emerging Markets ETF (EEM), and the stock market indices of the BRIC countries (Brazil, Russia, India, and China).

All of them are under the influence of Weekly sell signals on the RSI, MACD, and Stochastics indicators, none of which are showing signs of a reversal.

EEM is sitting just above a major support level of 42.00, Brazil is in between major resistance and support (67,500 and 60,000), Russia is just below major resistance of 1700, India is below major resistance of 19,000, and China is, once again, below major resistance of 2300.

They all appear to be forming large topping patterns on this 3-Year timeframe and are worth watching over the next weeks...particularly China, which is the weakest...and in view of building volatility in the Foreign ETFs, as noted in my post of March 22nd.