Photographer: Michael Reynolds/EPA

Emerging Stocks Approach First Golden Cross in a Year: Chart

A 22 percent gain since late January has pushed the MSCI Emerging Markets Index to the verge of a golden cross, a trading pattern frequently preceding a rally where the 50-day moving average crosses above the 200-day line. The developing-nation stock gauge’s advance from a 2009 low has wavered in the past week as commodity prices fluctuated and investors weighed the potential for higher U.S. interest rates. They’ll get some guidance Wednesday as the Federal Reserve releases a policy statement after a meeting at which futures traders see a zero chance of a rate increase.

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