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In One Chart: Why one analyst calls this the ‘chart of the week, month and potentially year’

Oppenheimer’s head of technical analysis Ari Wald calls this “our chart of the week, month and potentially year,” explaining that it “not only carries significance for the future direction of EEM’s trend—we think higher—but also for the cyclical recovery as well because broadening global participation remains a focal point to our outlook.”

As you can see, the iShares MSCI Emerging Markets EEM, -0.07% which has woefully underperformed the S&P 500 SPX, -0.04% over the past decade, is breaking out of a 10-year downtrend and is also making a higher high relative to an MSCI global index MSCI, +0.70%

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