Two things come to mind when I see the emulsion on the dipstick and tube. One, the coolant thermostat is faulty and the engine is not getting up to temperature, and two, the crankcase breather is plugged.
If you suspect a leaky headgasket, and some can leak a very small amount for many months, then remove the filler cap and run your finger around the underside of the cam cover. Any deposits there would indicate some seepage of coolant into the oil.