Emerging Markets Breaking Down
Chart Of The Day: MSCI Emerging Markets Index is breaking down…
Final chart of the day focuses on global stock market developments, in particular the Emerging Markets. While the S&P 500 has enjoyed a superb rally since October 2011 lows, rallying without a 10% correction for many years, other global indices haven’t done as well.
We have discussed the MSCI Emerging Markets Index many times in recent months. The technical triangle pattern has been interesting to watch, as the price coiled year after year. At the current price of 905 the index is drifting lower, but it is important to see wait for weekly close to confirm the break.
Nevertheless, as of right now, the index is breaking lower and signalling that not all is well with global economy. A further sell off below 850 on the index (October 2011 lows) could spell real problems and a potential of yet another global recession. Watch this chart carefully…
The post Emerging Markets Breaking Down appeared first on The Daily Gold.
Source: http://thedailygold.com/emerging-markets-breaking-down/
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