Short-Term (days/weeks) : higher for EEM

Short-Term (days/weeks) : higher
EEM was slightly lower last week, turning down at resistance from the summer price lows as Daily OB/OS momentum fell to modestly oversold.
At the end of the week, EEM turned up at trend support from the 2022 low; Daily OB/OS momentum was turning up at modestly oversold.
EEM looks higher short-term (days/weeks) along with other developed equity market indices; however, short-term price strength is likely to be countertrend since the intermediate trend (weeks/months) is negative (see below).
See Daily OB/OS Charts, attached, page 9.

Intermediate-Term (weeks/months): negative
GEM intermediate breadth and momentum indicators were all lower or unchanged again week-on-week at the close on Thursday:
 India, Taiwan, Korea and Singapore Intermediate Term Indicators and Money Flow of the Average Hang Seng, India and Singapore Stock fell and
 Singapore Intermediate Term Indicator and Money Flow of the Average Hang Seng and Taiwan Stock were unchanged.
GEM equity indices were mostly lower week-on-week at the close on Thursday:
 MSCI Emerging Markets (EEM), Hang Seng, HSCEI, Taiwan, Korea, Jakarta, ASX, Mexico, Bovespa, Philippines and Singapore fell and
 India, Johannesburg and Turkey were higher.
Several indices accelerated lower including Korea, Singapore, ASX, Mexico, Philippines, Bovespa, Jakarta and HSCEI.
See Weekly Charts, attached.
Lower or unchanged GEM intermediate indicators accompanied by renewed weakness for EEM suggests a still-negative intermediate outlook (weeks/months) for GEM equity indices.
The intermediate outlook for GEM equities (weeks/months) remains negative.