EEM, XLI updates 02/27

EEM: It has been a while since I updated this chart, and although things still look nice and clean from an impulse perspective on the way up, I do want to add the “2/A”, “I/A” and “II/B” labels as this can still very well be a large ABC up off the low made in late-2008. Only a 5-wave move up off the “II/B” low, followed by a break higher over the 4th wave high will move the count to the “2, I, II” count. Shorter term I still expect a (red) intermediate-v wave high to about $55.50 to complete the move up off the “II/B” low. Longs can still be long with a stop at $45.

EEM

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XLI: Similarly, its been a while since I updated this ETF. Price is now most likely in intermediate-v of Major-5 of Primary III. Based on the current Fib-extensions with iii of 5 of III tagging the (blue) 300% extension, and iv of 5 of III dropping to the 238.20% extension, I expect v of 5 of III to target the 323.60 to 338.20% Fib extensions ($86.50 to $89.15). Longs should still be long with a stop at just below the (red) intermediate-iv low; say $71.

XLI