08 August 2016 at 21:44 GMT
Not being the easiest of charts there is still something interesting to report on the EEM:arcx, the Emerging Markets ETF. Using two different counts they both align using time cycles today and tomorrow. It would, upon a bearish response, in such case also align with the last leg lower of the bear campaign. Which is hinting of further upside in due time following a correction lower. Price is also close to reaching an alignment with a complete cycle off the lows at around $27.50, but would ideally notch a bit higher. So, from this perspective a break of $39.50 from next week would thwart the risk of a correction. Also, take not of the BollingerBands®.