EEM and XEM, emerging markets

When investors become more risk tolerant they invariable stray further away from home and rapidly forget the history of these markets. Here are the EEM (US) and XEM (Can,)

 eem 2011 xem 2011

Notice that we are at spitting distance to the double top line, after having completed either 5 or 3-waves up. On the Canadian version, the chart is shorter as this one has not been around that long, the rise from the low is a TEXT-BOOK 3-wave move up, perfectly symmetrical in that the C=A and the c=a in the B-leg itself. Time to move aside .