EEM. Emerging Index Fund. Possible map of WXY

This is how I see the map for EEM.
It contradicts with the news background as EM countries are under pressure now.
But this is how I see the wave count now.
The wave 5 to the upside is pending and we could see some relief for EM...temporarily.
Invalidation for this count is below the 38.32 when the wave 1 will be broken

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price dipped below the apex of wave 1, invalidated