EEM Hits My Intermediate-Term Downside Target Zone. Time to Take a Look at a Contrarian Long Position.

In the enclosed chart we discussed about the BIG picture of the iShares MSCI Emerging Markets (EEM) at the end of July, 2015, when EEM was around 37.00, and when my work pointed to a potential plunge to 30.00.

Yesterday, EEM hit a low of 29.23 amid a glaring, weekly, positive-momentum divergence that at the very least is "warning" us that the EEM likely is nearing downside exhaustion from its May, 2014, high at 44.19.

I want to get my big toe in the EEM waters in and around current levels (29.70/80).