Bullish position trade on EEM

Since market upturn over a week ago at the end of last month, I have been watching a few ETF's for potential bullish entry. But my MFI indicator for these ETF's were holding me back. Starting from last Thursday, I could see MFI of some ETF's approaching 50 or higher. So, I bought June$40c of EEM as its MFI is about 50 on Thursday. It's intended to be a position trade for the duration of the current market rise.

I think this wave of uprising is powered by China's ETFs. The HAO has been performing strongly even before the market upturn confirmation day as shown in the performance comparison chart during the market correction period around 70 days. I'll use it as the leading indicator for this wave. If it gets in trouble at rising, I'll consider it as a warning sign to the current market bullishness.