The Quick Takes Pro blog by Michael Kahn, CMT about anything that might affect your portfolio.
Friday, December 18, 2009
Emerging markets bonk
I don't know of you noticed but both the Brazil and China ETFs bonked yesterday. Both broke trendlines and 50-day moving averages and I have the feeling that these BRICs in the wall are rolling over.This chart is at of 11am Friday and shows little rebound after a 2.7% drop the day before. A strong dollar hurts commodities and does not help commodities exporting countries.