Some trades from 2013 clearly haven't worked in 2014 but some have.
In a world where I clearly beleive in reversion to the mean, this trade continues to shock me. Emerging Markets are being sold for a variety of reasons, but if you think the SPX is vulnerable you can not expect the EEM to rally here even if EM can improve on the headlines.
Buying EEM will not be possible if SPX is testing the 50mda. Today the SPX danced near the 1812 level aka the 50mda.
The EEM ETF (quote) kissed $39.00 for an intraday low that takes you back to September 2013. $38.25-$38.50 is major support on the ETF going back through mid-summer. Use your EEM stop and .2100 overall on the .EMDM Index as your guidepost low in this trade.