What happened to Korean market?

EWY (Korean ETF in MSCI) completed 2 major bull runs via weekly bullish signals earlier this year. After the second TP3 was achieved, it has started pullback with the daily bearish signal, which is actually a huge one. The first wave down was pretty vicious and stopped right at daily TP2. Now the B wave rebound is over and we are on C wave down, which unfortunately may take a while to develop and eventually hit daily TP3 in worst case scenario.