Someone forgot to tell you it was still May on the calendar? That means anything can happen in EM. And even if the crisis is inspired by a political crisis in the developed world, the impact is always the same – EM gets torched.
But despite the aggressive peak to intraday low today move of 4.2% EM equities have held their down draft trend line from December lows, test in mid-march, mid-April and now in mid-May.
EM also has a major level to hold at $39.70-$40.00 on the EEM. We need a constructive hold on todays close yet markets are not ready to just forgive and forget.
- Your first trade for Tuesday, October 17Source: Fast MoneyPublished on 2017-10-17
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- Coming soon: Opening ceremony of the 19th CPC National CongressSource: China.orgPublished on 2017-10-17
- Beijing plans culture and tech integrated developmentSource: China.orgPublished on 2017-10-17
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- Chinese police repatriate ‘Red Notice’ fugitive to USSource: China.orgPublished on 2017-10-16
- In the battle between growth versus value, here’s what Mohamed El-Erian would pickSource: Fast MoneyPublished on 2017-10-16
- China announces new gravitational wave observationSource: China.orgPublished on 2017-10-16
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- Your first trade for Tuesday, October 17