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In yesterday’s newsletter, we listed a handful of European ETFs that have been showing relative strength by breaking out in recent weeks. However, the strength has not been limited to Europe. Emerging Markets ETFs have also been outperforming by breaking out above resistance levels, even as the US broad market chops around in an indecisive range. The strength in Emerging Markets ETFs can be seen on the daily chart pattern of Direxion Emerging Markets Bull 3X ETF ($EDC), a leveraged ETF comprised of a basket of stocks from emerging regions.

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