— Stocktwits (@Stocktwits) January 8, 2021
Today’s Chart of the Day was shared on Twitter by Stocktwits (@Stocktwits). It’s a weekly chart of the Emerging Markets ETF, $EEM, over the past 13-years. As Stocktwits points out, $EEM just closed at a weekly all-time high for the first time in over a decade. Why do we care about all-time highs? Because once price reaches uncharted territory like this, there is virtually no overhead supply to prevent price from moving significantly higher. Emerging Markets are a popular asset class for investors, but it’s been a painful decade+ for them. They’re just now recovering their Pre-Financial Crisis highs. After more than a decade of zero progress, could Emerging Markets finally make a new leg higher? Stay tuned!