Crypto news flash, analysis by Joao Wedson pointed out that the iShares MSCI Emerging Markets ETF usually shows weakness before the S&P 500 starts to weaken. He shared this pattern and mentioned historical data from its annual performance. When the year-over-year change exceeds a certain threshold, it often signals a major top in the S&P 500 or the ensuing market correction. This is closely related to the behavior of emerging markets, which are typically more sensitive to changes in global liquidity, the US dollar, interest rates, capital flows, and risk appetite. The current year-over-year reading is again above the historical threshold. While this does not guarantee that the S&P 500 has reached its final top, it is a warning that should not be ignored. Emerging markets may once again be sending early signals that risk appetite is approaching an important turning point.