SPEM: double bottom confirmed, trend losing steam
SPEM rises 1.7% and confirms the double bottom, but momentum keeps fading
SPEM: double bottom confirmed, trend losing steam
Our view last week
The emerging markets ETF SPEM is in week 11 of a buy signal: price has already reached the model's 3 statistical targets, but the management roadmap ran through week 10, now behind us. The trade is essentially at breakeven since entry, with the stop moved to zero risk. The technical picture stays mixed: averages aligned to the upside, but momentum and volume cooling off.
This week's summary
Weekly technical analysis. This week SPEM, the emerging-markets ETF, confirmed the double bottom in the 50 area with an intermediate 6% rebound and closed up 1.7%, with buyers back in control (92% of volume, versus just 41% the week before). Price is now boxed between the 7-day high and the daily Kumo ceiling, while the ADX keeps falling: the trend is losing conviction even as the buying side tries to catch its breath.
IQS Phase
54
ordinary
Signal Strength
35
medium · weak
Sizing
REDUCED
Ranking
#101 / 129
US stocks in progress
Trade P&L %
+1.19%
from signal to today
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