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

Short-Term (days/weeks) : short-term low soon
EEM fell again last week, breaching support from the December high as Daily OB/
OS momentum failed below neutral.
At the close on Friday, EEM was testing trend support from the October low; Daily
OB/OS momentum was moderately oversold.
No short-term buy signal for EEM (price turning up at support as Daily OB/OS
momentum turns up in oversold territory), but the conditions are in place.
Also, key US equity indices are also at—or near—short-term price support and the
Number of NYSE Stocks with Weekly Money Flow Turning Positive suggests a short
-term low for US equities next week or the following week : see US Weekly Report
and Charts.
US analogs also still look relevant and point to a short-term low for developed
equity market indices soon: see analog charts, pages 2-3.
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, Singapore and India Intermediate Term Indicators and Money Flow
of the Average Hang Seng, Singapore and India Stock fell,
 Korea Intermediate Term Indicator was higher and
 Taiwan Intermediate Term Indicator was unchanged.
GEM equity indices were mostly lower week-on-week at the close on Friday,
including MSCI Emerging Markets (EEM), Hang Seng, HSCEI, India, Singapore,
ASX, Jakarta, Johannesburg, Bovespa and Korea.
Taiwan, Turkey, Philippines, and Shanghai were higher. See Weekly Charts,
attached.
Mixed intermediate indicators accompanied by mostly lower 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.