Emerging Markets Weak

07/24/2008 12:00 am EST

Focus: ETFS

Even though some sectors of the US market have rebounded nicely, the emerging markets have not joined the party. VWO has not bounced much from the lows and the break of the long term uptrend and negative 50/200 day MAs suggests any further rally should fail in the $48-50 area. Next support at $40-42.