EEM: retesting 0.61 and heading lower
Emerging markets is completing a complex correction from an Elliot wave point of view.
The first leg of the C wave started in May21 and is currently retracing before heading lower.
Dollar index broke out and is now retesting the top of its previous range going back till '15.
Secondly EEM and Dollar index are inverse correlated when the market is trending.
VIX lift-off will coincide with this second leg.
The first leg of the C wave started in May21 and is currently retracing before heading lower.
Dollar index broke out and is now retesting the top of its previous range going back till '15.
Secondly EEM and Dollar index are inverse correlated when the market is trending.
VIX lift-off will coincide with this second leg.
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