Emerging Market Blood Types

Just a quick observation here about emerging markets. For all of the talk about “blood in the streets,” on the weekly chart of the ETF for the main BRIC countries, note that the RSI (top pane) never really became very oversold into the 20’s this year and even in 2011. Perhaps  the real blood is to come? I would still be keying off FCX CAT, etc., to see if they can hold on for dear life at multi-year support.

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