Korea K-rashing As EM Volatility Explodes

Korea K-rashing

The moves in Korea continue to be absolutely huge. EWY bounced strongly yesterday but has turned south again, crashing 7.5% as of writing. Despite the latest puke in Korean equities, EWY remains above the 50-day moving average (first support). We are still well above the 100-day, not to mention the 200-day moving average. People tend to forget that parabolic moves all end the same way — but it takes time.