Ishares MSCI Emerging Markets (NYSE: EEM) Tops Resistance Says Market Timer Frank Kollar
April 24, 2008 (FinancialWire) (By Frank Kollar)
Shares of the Ishares MSCI Emerging Markets (NYSE: EEM) have moved sharply higher since successfully retesting their correction lows back on March 20.
On Wednesday, April 23, MSCI Emerging Markets closed at $147.29, above its previous rally highs achieved back on February 27. Prices should continue higher and reach the next resistance level, at $150.00 in coming days.
A successful test of $150 would forecast a run to at least $157.81.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy has a position in MSCI Emerging Markets.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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