EMERGING & FRONTIER MARKET ETFs (EEM & FM)

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the review section iShares MSCI Emerging Markets Index ETF (EEM) and iShares Frontier 100 Index ETF (FM), listed on the New York Stock Exchange.

The benchmark for the Emerging Markets performance, the iShares MSCI Emerging Markets Index ETF (EEM) is consolidating around the 200-day average possibly forming a larger scale bottom reversal chart pattern. If the ETF is forming a complex H&S bottom, price should find support between 40-41 area to form the right shoulder of a H&S bottom. I will monitor this ETF for another attempt to stabilize above the long-term average. I consider price action that manages to stabilize above the 200-day average an uptrend and review that chart with a bullish perspective.

Similar to ACWI and EEM, the benchmark for the Frontier Markets performance, the iShares MSCI Frontier 100 ETF (FM) reversed from its long-term average, possibly in an attempt to form the right shoulder of a larger scale bottom reversal. If the ETF (still at early stages) is forming a H&S bottom, the right shoulder should find support around 27-27.5 area.

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