The iShares Emerging Markets ETF (EEM) met our 43.00 upside target this morning, which was first mentioned in our research (access requires subscription) on January 27th 2017, to capture a $5.53 per share, 15% advance in a little less than 6 months.
Here is the updated weekly chart since 2015, which shows the initial July 2016 bullish breakout in EEM and also the 15% gain since late January.
Our interest in EEM was, and still is, due to its positive correlation to the S&P 500 (SPX), which has been 0.79 over the past 6 months.
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- to make everyone aware of a potential upcoming price reversal as price advances often end as upside targets are met and more savvy investors take profits.
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