Brazil China And Emerging Markets Hold Major Support

China (FXI), Brazil (EWZ) and the entire Emerging Market MSCI Index (EEM) have bounced off of major technical support levels that reach back to 2006.  This is coinciding with the rebound in commodity stocks.  They should all move higher from here.

QQQ Continues To Lag S&P 500. PerfChart QQQ SPY EEM XLF IWM MDY FDN IBB XIU

Mega cap tech stocks (QQQ) have been lagging the S&P 500 for most of the year, largely due to the poor performance of a few big names (i.e. AAPL, MSFT, INTC).  Biotechnology (IBB), on the other hand, is way out front.