Fourth Approach

The emerging markets fund has soared almost 50% since the beginning of last year. That’s a pretty amazing performance for such a broad base of equities.

I would like to point out – – for what it’s worth (which isn’t necessarily that much in today’s QE-fueled world) this is the fourth time prices have approached the red trendline drawn below, each of which has carved out a slightly lower high. We shall see if a fourth descent begins, as before, or if at last this breaks above the resistance.