No short-term buy signal for EEM (days/weeks).

Short-Term (days/weeks) : further short-term weakness (days)
EEM was lower last week, as expected, breaching trend support from the October low as Daily OB/OS momentum turned up at very modestly oversold.
At the close on Friday, EEM was testing support from the November high, very near $39.50 target support; Daily OB/OS momentum was stalling at very modestly oversold.
No short-term buy signal for EEM (days/weeks).
Next support for EEM is $39, trend support from the November low; this is 2% below Friday’s close.
See Daily OB/OS Charts, attached, page 9.
Intermediate-Term (weeks/months): still positive
GEM intermediate breadth and momentum indicators were mostly lower or unchanged week-on-week at the close on Thursday:
 Hang Seng and Korea Intermediate Term Indicators and Money Flow of the Average Hang Seng and Singapore Stock were lower,
 Singapore and India Intermediate Term Indicators and Money Flow of the Average India and Taiwan Stock were unchanged and
 Taiwan Intermediate Term Indicator was higher.
GEM equity indices were mixed week-on-week at the close on Friday:
 MSCI Emerging Markets (EEM), Hang Seng, HSCEI, Shanghai, ASX, Korea, Singapore, Philippines and Taiwan fell,
 India, Johannesburg, Bovespa and Turkey were higher and
 Jakarta was unchanged.
Turkey accelerated higher. See Weekly Charts, attached.
Mixed intermediate indicators and GEM equity indices suggests a still-positive intermediate trend (weeks/months) for GEM equity indices.
Key take-away: the intermediate outlook for GEM equities (weeks/months) remains positive.