In my opinion, it is Transitional Year, since you can do a couple EM electives. Considering you already have your SLORs, the best time to do your EM electives would be November and January/February. Do IM and ICU blocks before November, so that you can come in with some experience. Preferentially see if you can do your elective blocks of EM at a residency with an EM residency and express your deep interest in matching at that program (if that's true).
By the way, I did this.