Domistock Tools Used:
Assets charted: Emerging markets IShare (EEM)
In my last analysis I pointed out quite a few DomiStock signals suggesting that oil is seriously deflated and might have just bottomed out. Todays’ reaction adds some confirmation points to that forecast. And if this is the case then emerging markets are also candidates for a big run. As seen on the DomiStock Cross Asset – Stocks Template, emerging markets IShares, EEM, has a 0.9 positive correlation with oil. Add to this the fact that emerging markets have recorded a terrible drop and you end up with a potential opportunity for the rest of year.
