For Investors it's difficult to find positives in the global macro-overlay or even in bottom up fundamentals as we assess valuations which are cheaper but not dirt cheap( you can't have cheap valuations if despite lower stock prices, earnings are weak to nonexistent).

TraderOn another you level you have to look at what the market is telling you and where we are relative to where we have been. This is where technicals are helpful because they can begin to put some rational assessment on where irrational emotions take you in the middle of a global equity swoon.

Tonight on the Ticker District webinar called "Unfinished Business" I will try to make the case for where despite thinking markets can trade lower, I think markets have priced in a lot of pain. EmergingMoney.com investors have been hearing our caution via the Daily Audio Conference Call. While continue to point out key trading levels and tactical ideas in the midst of the selloff, we have been framing our ideas from the context of emerging markets (EEM, quote). "Our markets" have been in decline for 5.5 years so on some level we have already faced the extreme sentiment changes.

EmergingMoney.com subscribers can a preview into tonight's webinar in the form of a charts that I will talk about. One such chart is our classic ration between EM equities and the SPX or "developed equities". We refer to this as the "EM/DM spread".

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