Short-Term (days/weeks) : EEM still struggling, now neutral (was positive)

Short-Term (days/weeks) : EEM still struggling, now neutral (was positive)
EEM fell last week, turning down at trend resistance from the 2023 high as Daily OB/OS momentum turned down at modestly overbought.
At the end of the week, EEM had breached spring/summer 2023 price lows and was testing trend support from the October 2022 low; Daily OB/OS momentum was neutral.
EEM price at support and Daily OB/OS momentum at neutral suggests a neutral short-term outlook (days/weeks) at worst for EEM; key US equity indices are also mostly at support and the Number of NYSE Stocks with Weekly Money Flow Turning Positive suggests a short-term low for US equities in 1-2 weeks (see US Weekly Charts, page 4).
However, the intermediate outlook (weeks/months) for the key US equity market is now negative (see US Report) suggesting short-term strength will be limited in duration. On balance then, the short-term outlook for EEM is now neutral (was positive). See Daily OB/OS Charts, attached, page 9 .

Intermediate-Term (weeks/months): still neutral
GEM intermediate breadth and momentum indicators were mixed again week-on-week at the close on Thursday:
 Taiwan and India Intermediate Term Indicators and Money Flow of the Average Hang Seng and India Stock fell,
 Hang Seng Intermediate Term Indicator and Money Flow of the Average Taiwan and Singapore Stock were unchanged and
 Korea and Singapore Intermediate Term Indicators were higher.
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, ASX, Philippines, Bovespa, Johannesburg and Singapore; Jakarta, Turkey and Mexico were higher.
See Weekly Charts, attached.
Mixed GEM intermediate indicators and lower EEM suggests a negative intermediate outlook (weeks/months) for EEM. The intermediate outlook for the key US equity market is now negative too which should weigh on EEM.
The intermediate outlook for GEM equities (weeks/months) is now negative (was neutral).