We're back to February '09 levels on the iShares MSCI Emerging Markets Index Fund ( EEM , quote ) vs. the SPDR S&P 500 ETF ( SPY , quote ) and touching the September 5th levels of 2012 when emerging markets went on a ferocious rally against SPY into year end.
As I always say, without China, emerging markets can't really rally against developed markets. As well, U.S. dollar strength is putting a hurt on emerging market currencies, exacerbating this condition.
Emerging markets have lost 11.5% vs. the SPX since January 2. Oversold, yes, but what do you do with a U.S. dollar that is going higher? Find out by watching Fast Money Tonight
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
