Weekly we can see a wide green bar but with lower than last week. This is either short covering or bears waiting to short at higher level. I suspect it will go down along with the falling widened to test green cloud support. After that, just like SPY , a strong buying opportunity all the way to the top, where the peak will be set.
China and U.S trade news just came out this weekend. Suppose buy rumor sell the news. The rumor previously was bought and my thought is the news will be sold.
I linked to my previous short FXI idea. It is still in play, although a decent bounce.