It’s Elliott Waves are hard to call but it doesn’t look like its in a 5-wave impulsive move. It looks like it did a three wave move up and then tanked.
What it does have going for it is that its moving averages are trending higher and money is moving into emerging markets. It’s P/E is still favorable and so is its book value.
The downside is that it’s in a major zone of resistance now. If it were me, I’d out of it and not think about the money being made in that ETF but if the money were in something that we had more clarity on, what could it do there?