Emerging Markets Weak

08/14/2008 12:00 am EST


Thomas Aspray

, Professional Trader & Analyst

While the US averages have rebounded sharply from the July lows, the emerging markets have continued to decline as EEM has dropped 6% in the past month. The year long uptrend in EEM was broken in early July. Next good support at $37.50 then at 34.50 with resistance first at $41.50-42.50.

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