IEMG drops 5.3%: a fresh Sell signal kicks in
IEMG drops 5.3%, confirming the bearish turn the MACD had already flagged
IEMG drops 5.3%: a fresh Sell signal kicks in
Our view last week
This week IEMG rebounds 1.9% and buyers step back in with conviction - 74% of volume on the buy side - after the double bottom in the 78 area two weeks ago. The price has cleared last week's resistance in the 80 area and is now consolidating in a tighter band, between 81.1 and 81.5. Beneath the surface, though, the weekly MACD has just crossed bearish and momentum has been fading for a month.
This week's summary
In this week's IEMG technical analysis, the emerging markets ETF drops 5.3%, reversing last week's bounce and confirming the bearish MACD cross that was already forming. A fresh Sell signal has just kicked in, 9th of 140 among the US sell signals, with signal strength at 100 out of 100: the decline is starting out already making lower lows. Underneath, though, a few cracks show in the push - sellers still dominate but are fading - and the confirmation week is still open.
IQS Phase
53
ordinary
Signal Strength
100
decline starting to make lower lows
Sizing
STANDARD
Ranking
#9 / 140
New us stocks
Trade P&L %
+0.00%
from signal to today
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