Volume Declining in Emerging Markets

11/19/2009 9:22 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

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The emerging markets ETF (EEM) made new highs on Monday as the major 61.8% resistance was reached. Volume on the rally has not been impressive, and while the weekly OBV is positive, the daily did not confirm this week’s highs. If daily OBV support is broken, it would signal a correction in the intermediate uptrend.