Bank of New York ADR Index

The Bank of New York ADR Index - my proxy to the world index or EEM, you choose feel in 5 waves in what is marked as 'a' so it is bouncing back in wave b and wave c down will follow and go below wave a based on the EW fractal. Now all eyes are on Dow that went up a lot overnight and India follows more US than EM recently but this is the Macro trend at the back, a slow rollover of other markets downward.