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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

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Cabin

Cabin

Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
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*** Click here for link to Economic Calendars for all upcoming events

IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance

Wednesday, June 05, 2013

Emerging Markets ETF Breaks Below Channel

We may see some nice follow-thru on this EEM channel break and a correction down to major support at 36.50, as shown on this Weekly chart.


A drop below 0.98 on the AUD/CAD forex pair could send it down to the lower channel at 0.959ish or lower to 0.93, as shown on this Weekly chart.


I'll be watching the recent weakness on China's Shanghai Index for a potential drop and hold below both the 50 and 200 MAs, as shown on the Daily chart below.


So, further weakness in EEM, AUD/CAD, and China could pull US equities down further, especially if we see a continued drop in Japan's Nikkei Index, as I wrote about earlier today in this post.