I find that UK listed investment trusts often show quite clear EW patterns and maybe, just maybe, this is one of them. I saw a presentation that suggested that the bull market in Emerging markets is just getting under way but this count suggests a totally opposite view to that. However, the long term trend is definitely up and calling tops usually ends in tears so...
Wave Count of the price of TEM converted to Dollars to try to match the USA iShares MSCI Emerging Markets (EEM). Not ideal because Dollars are not the Emerging Markets native currency.