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Business cycle points to weakness in EM equities

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NYMEX:HRC1!   None
Beyond Technical Analysis businesscycle steel SPX (S&P 500 Index) EEM
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beyondta businesscycle steel spx eem
Slowing business cycle also points to further weakness in EM equities until end of 2019 or steel prices turn higher.
SPX may be more resilient but upside should be limited.

IF EM equities will be under pressure, it is likely that DXY will be strong in the coming months.

SHORT EEM bounces. Be cautious on SPX

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