No clear sell signal for EEM: would give the short-term outlook (days/weeks) the benefit of the doubt.

Short-Term (days/weeks) : no sell signal
EEM fell last week, turning down at trend resistance from the January high as Daily
OB/OS momentum turned down at moderately overbought.
At the close on Friday, EEM was again testing trend support from the January 2022
low; Daily OB/OS momentum was turning down at modestly overbought.
No clear sell signal for EEM: would give the short-term outlook (days/weeks) the
benefit of the doubt.
See Daily OB/OS Charts, attached, page 9.
Intermediate-Term (weeks/months): positive
GEM intermediate breadth and momentum indicators were all unchanged or higher
week-on-week at the close on Thursday:
 India, Korea and Taiwan Intermediate Term Indicators and Money Flow of the
Average India Stock improved and
 Hang Seng and Singapore Intermediate Term Indicators and Money Flow of the
Average Singapore, Hang Seng and Taiwan Stock were unchanged.
GEM equity indices were mostly lower week-on-week at the close on Thursday,
including MSCI Emerging Markets (EEM), Hang Seng, HSCEI, Shanghai, Korea,
Taiwan, Philippines, Johannesburg and Singapore. India, Turkey, Bovespa and
ASX improved; Jakarta fell. Bovespa and Turkey accelerated higher. See Weekly
Charts, attached.
Higher EEM accompanied by mixed GEM intermediate indicators suggests a still-positive
intermediate outlook (weeks/months) for EEM.
DJIA/NY SE ITI analog models suggest strength to early/late June for US equity
indices : this looks like a reasonable scenario for GEM equity indices too : see
analog charts, pages 2-3.
Key take-away: the intermediate outlook for GEM equities (weeks/months)
remains positive.