I suspect the market is going to be in a state of “arrested development” today and tomorrow, since everyone and his brother is waiting for the stupid G20 to finish and some kind of announcement (or lack thereof) to be made.
In the meanwhile, let’s take a look at the emerging markets ETF, which has been steadfastly bearish all year long. I’ve circled in red where the respective crossunders took place with the exponential moving averages (50/100/200) and have tinted each “lower high”. This downtrend will remain intact as long as no “higher high” takes place.
For myself, my trading strategy until Monday can be largely summarized as follows: