I will be shorting EEM as it has completed 5 waves inside of a long-term downside . We will be looking to short EEM as it completes a long-term wave 5.
The US Economy is strong. The Fed will more than likely hike rates in March or soon after. The rate hike with strengthen our dollar, therefore weakening other countries currency. Trade with the US will also be "more expensive" for Emerging Markets. We feel EEM will be hurt by the current US Economy.
Post your thoughts and comments below.
I have almost the same count than you but I think the 5th wave is not over yet, according to my count we're on the sub 4 of the 5th wave, my support for this sub 4 is around 37.20 (sma 50 days and 61% of the sub 3 wave) and my target for the 5-5 wave is 39.30 (resistance line if you join 2014 and 2015 peaks)