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In early February, the iShares MSCI Emerging Market Index ETF (EEM) rallied above resistance of its long term downtrend line and 200-day MA. Since breaking out, EEM has been consolidating in a tight range above the 200-day MA and now offers two potential long entry alternatives. EEM could offer a buying opportunity on a breakout above the three day high near $44.10 or on a pullback and undercut of its 20-day EMA. We are monitoring this ETF closely for a potential long setup.

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