Emerging Markets, not emerging anymore?

ISHARES MSCI Emerging Market ticker EEM is drawing out a 3 year consolidation rectangle.

The monthly candle 10 year chart shows this top formation. The arrows indicate he measured move, if the formation breaks down below 35.

eem_m

The weekly candle 5 year chart actually shows us there is a tighter formation within the bigger one. I put an alert at 36. This will bring my attention back to this ticker.

eem_w

The daily candle 1 year chart shows a bounce off the top resistance. Seems like it’s in no-man’s land right now.

eem_d

 

I like these horizontal consolidation patterns. Especially those +years in length. The longer the base… the higher in space… I know, I know.

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