Short-Term (days/weeks) : positive. EEM was higher last week, as expected, holding above fall 2022 support as Daily OB/OS momentum turned positive: the short-term trend (days/weeks) is positive.

Short-Term (days/weeks) : positive
EEM was higher last week, as expected, holding above fall 2022 support as Daily
OB/OS momentum turned positive: the short-term trend (days/weeks) is positive.
At the close on Friday, EEM Daily OB/OS momentum was only modestly
overbought, leaving room for further upside.
New DJIA /NYSE ITI analogs of troughs in the 50% range suggest strength to early
October for the key US equity market; this should be bullish for GEM.
See Daily OB/OS Charts, attached, page 9 and analog chart, page 2.
Intermediate-Term (weeks/months): still neutral
GEM intermediate breadth and momentum indicators were mixed again week-onweek
at the close on Thursday:
 Korea Intermediate Term Indicator and Money Flow of the Average Hang Seng
Stock improved,
 India and Taiwan Intermediate Term Indicators and Money Flow of the Average
India Stock fell and
 Hang Seng and Singapore Intermediate Term Indicators and Money Flow of the
Average Taiwan and Singapore Stock were unchanged.
GEM equity indices were mostly higher week-on-week at the close on Thursday :
 MSCI Emerging Markets (EEM), Mexico, Turkey, Hang Seng, HSCEI, Shanghai,
Korea, ASX, Jakarta, Singapore, Johannesburg and Taiwan improved and
 India, Bovespa and Philippines fell.
MSCI Emerging Markets (EEM) accelerated higher.
See Weekly Charts, attached.
Accelerated improvement in EEM accompanied by mixed GEM intermediate
indicators and an intermediate buy signal for the key US equity market is not quite
a strong intermediate buy signal for GEM equity indices.
Still best to wait for broad improvement in GEM intermediate indicators
accompanied by equity index price strength as a clear intermediate buy signal.
The intermediate outlook for GEM equities (weeks/months) is still neutral : on
the alert for a buy signal soon.