Despite Turkey's Drama, Emerging Markets Are OK

News over the weekend was an attempted and failed coup in Turkey so I thought I’d take a look at some of these Emerging Markets to see if there’s anything of interest there – and I think there is.

Let’s start with turkey and as you can see it had broken down below its averages and made a break out attempt when the rest of the world was rallyng but that ended with the gap down opening this morning. This the Turkey ETF by the way TUR symbol and really not much to like here in terms of indicators and a trend that appears to be down once again.

Let’s keep going and look at the Emerging Markets ETF. Just a general Emerging Markets some coverage on this one and we can see that the trend is still to the downside mostly but take a look over here and I do see an upside break out over the last week or so. I think it looks pretty decent above its 50-day and 200-day moving averages, Price relative is slightly better but still not great but at least it’s on the strong side. Nothing that interesting there but it’s better than what it could have been.

Let’s take a look at one of my favorites This is Vietnam – VNM is the symbol – that looks like an nice breakout from a range that’s been in effect for a couple of months now, through both averages recently the 200 day so it’s pretty good. It’s not really outperforming the US right now but at least it’s matching the pace and RSI again is on the high side which is good not overbought but not week either so I like the Vietnam ETF. Something to check out.

Next, take a look at China or the FXI ETF – a quasi China basket. Same story here even in this part of the world with a breakout above the average and above this recent trading range. I like it but not quite as much as some of the others but it is certainly better than it used to be.

Moving to another part of the world this is Brazil. Lot’s of news there with the Olympics and the zika virus but look at the trend in the stock market. Not too shabby. That is a rising trend, above its averages and beating US a little bit over the last two months. Momentum is decent so on the pullback it is probably a good one.

And finally This is Peru and the reason I like to look at Peru is because it’s almost a proxy on the precious metals. It is very heavily into silver mining and when one does well the other seems to do well. It’s a nice breakout although the RSI is not exactly overbought this looks like it probably is ready for a pull back. You can see the 50 day average clearly above the 200 day so that part of the world not bad. Even though turkey – a big Emerging Market – having its problems the rest of the Emerging Markets world is not too bad. https://www.youtube.com/watch?v=1dsvJ5uXF1w

Submitted July 18, 2016 at 11:17AM by TechnicianApp http://ift.tt/2aaI6ca