Emerging Markets Still Strong

07/24/2009 9:35 am EST


Thomas Aspray

, Professional Trader & Analyst

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The overseas markets have continued to rally alongside the US. The emerging markets ETF (EEM) has been especially strong as it is up 15% after testing support in the $30 area last week. The 50% retracement level and trend line resistance is in the $37-$38.50 area. EEM is getting overbought with support at $32.50-$33.50.

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