A look at the charts of emerging markets show an interesting situation.
EEM looks to be breaking out of a consolidation on the daily as well as the weekly long term charts. It is a good sign when there are breakouts in multiple timeframes.
And markets are fractals. Meaning that often the same patterns are noticed in charts of different timeframes. Much as a tree is seen in a branch and a branch in a twig....
Notice the cup and handle formation in the weekly and daily charts and the breakout.
EEM:
This may be the start of another long term move in the emerging markets. And may be a harbinger of things to come worldwide. Take another look at the small cap chart IWM....
and while we are here, an instance of support/resistance in MCP:
gh
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All comments are appreciated as it will give me a chance to adjust my content to any real people who may be out there. Thank you. gh