One of our favorite bearish sectors keeps on keeping on. Huzzah!

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Want to see something cool? Sure you do! Let’s take a look at the heavily-traded emerging markets fund symbol EEM. I have drawn a Fibonacci Retracement form the Covid crash bottom (March 23, 2020) to the recovery top (incredibly, way back in February 16, 2021). Pay particular attention to the retracement that I’ve put in bold, which is at the 61.8% level.