Emerging Markets Update

02/11/2010 9:36 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

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The market’s decline has hit the emerging markets especially hard, and emerging markets ETF EEM has been testing the rising 200-day MA over the past two weeks. The 38.2% support is at $34.60 with the 50% level just under $32. Brazil ETF EWZ has also fared poorly, dropping from a high of $80.93 to a recent low of $60.85, which was just below the 38.2% support level. It has bounced back above the 200-day MA with the 50% support level at $56. Heavy volume on the decline is negative, so the volume on any rebound will be important.

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