EEM has struggled to make progress in recent weeks, but the uptrend is intact: no short-term sell signal.

Short-Term (days/weeks) : uptrend intact
EEM was higher last week, turning up at trend support from the fall 2022 low as
Daily OB/OS momentum turned up at modestly overbought.
At the close on Friday, EEM was near trend resistance from the 2023 high; Daily
OB/OS momentum was modestly overbought.
EEM has struggled to make progress in recent weeks, but the uptrend is intact: no
short-term sell signal
See Daily OB/OS Charts, attached, page 9.
Intermediate-Term (weeks/months): positive
GEM intermediate breadth and momentum indicators were mixed week-on-week at
the close on Thursday:
 Hang Seng, Taiwan, Korea and India Intermediate Term Indicators and Money
Flow of the Average India Stock fell,
 Singapore Intermediate Term Indicator and Money Flow of the Average Hang
Seng and Singapore Stock were unchanged and
 Money Flow of the Average Taiwan Stock improved.
India and Korea Intermediate Term Indicators were sharply lower.
GEM equity indices were also mixed week-on-week at the close on Thursday:
 MSCI Emerging Markets (EEM), Taiwan, Philippines and Korea improved,
 Hang Seng, HSCEI, Shanghai, Mexico, Singapore, Turkey, Johannesburg and
India fell and
 ASX and Jakarta were unchanged.
Taiwan was sharply higher; Mexico and Turkey were sharply lower. See Weekly
Charts, attached.
Unchanged GEM intermediate indicators and equity indices suggests a still-positive
intermediate trend (weeks/months) for GEM equity indices.
DJIA/NY SE ITI analog models still look relevant and point to strength to early or
late June for key US equity indices before the next short-term pullback: this looks
bullish for GEM equity indices too. See analog charts, pages 2-3.
Key take-away: the intermediate outlook for GEM equities (weeks/months)
remains positive.