The Emerging market ETF EEM has broken out of the consolidation. Read the post here.
The etf is relatively bullish than SPX which is a major turn in the assets allocation globally.
Lets see how Nifty is performing relatively.
First Nifty vs EEM in a relative chart:
The ratio has been in range for quite some time and has is at the resistance trendline.
The 50 SMA is getting flat which is a good sign.
This shows that India is still underperformer in emerging markets.
Now hows the Nifty vs SPX. Well that's showing bullishness.
There is first breakout from the double top of X's which is highlighted. Though it is still below the bearish trendline but the ratio has rising bottoms.
So overall Nifty is for sure signs of bullishness but the months of under performance still lingers and that itself can be good trigger for buying by funds.
The etf is relatively bullish than SPX which is a major turn in the assets allocation globally.
Lets see how Nifty is performing relatively.
First Nifty vs EEM in a relative chart:
The ratio has been in range for quite some time and has is at the resistance trendline.
The 50 SMA is getting flat which is a good sign.
This shows that India is still underperformer in emerging markets.
Now hows the Nifty vs SPX. Well that's showing bullishness.
So overall Nifty is for sure signs of bullishness but the months of under performance still lingers and that itself can be good trigger for buying by funds.
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