The short-term outlook for EEM (days/weeks) is positive.

Short-Term (days/weeks) : positive
EEM was higher last week as expected, turning up at support from the April low as
Daily OB/OS momentum turned positive.
At the close on Friday, EEM was near resistance from the January high; Daily OB/
OS momentum was very modestly overbought.
The short-term outlook for EEM (days/weeks) is positive.
See Daily OB/OS Charts, attached, page 9.
Intermediate-Term (weeks/months): positive
GEM intermediate breadth and momentum indicators were mixed again week-on-week
at the close on Thursday:
 India and Taiwan Intermediate Term Indicators and Money Flow of the Average
India Stock improved,
 Korea and Singapore Intermediate Term Indicators fell and
 Hang Seng Intermediate Term Indicator and Money Flow of the Average
Singapore, Hang Seng and Taiwan Stock were unchanged.
GEM equity indices were also mixed week-on-week at the close on Thursday:
 MSCI Emerging Markets (EEM), Hang Seng, HSCEI, Shanghai, Jakarta, India,
Korea, Philippines and Taiwan were higher and
 Bovespa, Singapore, Turkey, Johannesburg and ASX fell.
See Weekly Charts, attached.
Higher EEM accompanied by mixed GEM intermediate indicators suggests a still-positive
intermediate outlook (weeks/months) for EEM.
DJIA/NYSE ITI analog models suggest strength to early/late June for US equity
indices : this looks like a reasonable scenario for GEM equity indices too : see
analog charts, pages 2-3.
Key take-away: the intermediate outlook for GEM equities (weeks/months)
remains positive.