Short-Term (days/weeks) : short-term low now or soon for EEM

Short-Term (days/weeks) : short-term low now or soon for EEM
EEM was unexpectedly lower last week, turning down at resistance from the
January high as Daily OB/OS momentum turned down at very modestly
overbought.
At the close on Friday, EEM was testing new trend support from the October low;
Daily OB/OS momentum was very modestly oversold.
Key US equity indices are also at price support.
The Number of NYSE Stocks with Weekly Money Flow Turning Positive suggests
a short-term low for US equities next week : see US Weekly Charts, page 4.
DJIA/NYSE ITI analogs also point to a short-term low for US equity market indices
now or soon: see analog charts, pages 2-3.
EEM should made a short-term low now or soon as well. See Daily OB/OS Charts,
attached, page 9.
Intermediate-Term (weeks/months): still positive
GEM intermediate breadth and momentum indicators were mixed week-on-week at
the close on Thursday:
 Hang Seng and Korea Intermediate Term Indicators and Money Flow of the
Average Hang Seng Stock fell,
 India and Taiwan Intermediate Term Indicators and Money Flow of the Average
India Stock were higher and
 Singapore Intermediate Term Indicator and Money Flow of the Average
Singapore and Taiwan Stock were unchanged.
Hang Seng and Korea Intermediate Term Indicators accelerated lower and India
Intermediate Term Indicator accelerated higher.
GEM equity indices were also mixed week-on-week at the close on Friday:
 India, Turkey and Taiwan improved,
 MSCI Emerging Markets (EEM), Hang Seng, HSCEI, Shanghai, Singapore,
Jakarta, ASX, Johannesburg, Philippines, Bovespa and Korea fell.
EEM, ASX, Hang Seng, Jakarta, Johannesburg, and HSCEI accelerated lower and
Taiwan and Turkey accelerated higher.
See Weekly Charts, attached.
The intermediate uptrend in place for GEM equity indices since the October low is
intact.
Key take-away: the intermediate outlook for GEM equities (weeks/months)
remains positive.