EEM showing emerging markets are back to test lows of last June 5th


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IShares Trust MSCI Emerging Market ( EEM , quote ) ETF is showing emerging markets are back to test lows of last June 5 th where all markets bottomed before going on a year-end tear.

The $36.93 is the closing low on EEM from June 5th.

A line back tells you that emerging market equities have unwound all the way back to August 2009 levels!

This is back when market pundits didn't even have catch phrases like QE 1 2 3.  So while emerging market equities should have done all their heavy backfilling of profits, if the SPX breaks 1600 support, I don't think you can hope emerging markets bottoming first is the call yet.

After a 17% move from the recent highs on May 9th, emerging markets are down 16% to suddenly and quietly make this one of the worst May June periods in a storied history.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks

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