Just to shift gears, I’ll offer something somewhat bullish (although I don’t mean it for a second).

The emerging markets have been extraordinarily chart-able for 2018. That’s plain to see from the tints I have provided below. At the moment, my eye is on that yellow since, which for the third day appears to be providing support.

That yellow tint also marks a very important long-term trendline, which I’ve marked with an arrow. This trendline is acting as support for the moment, while it had behaved as resistance for many years.

The ideal situation, of course, would be a failure at this point, promulgating another phase of the global decline.