After all of the trade news we've gotten this week, and the market reaction, it's time to take a look at what to expect from the markets going forward.

Over on Real Money, Jim Cramer broke down his current position on the state of the markets:

Now, I want to be careful to point out that the selloff may not be totally over. We are oversold, which is a nice springboard. And it does seem like there is an intermission in the trade war. The problem is that President Trump is so determined to get everyone to buy outside of China that it's become a foot race that not everyone can win. Those that are too linked will find their stocks getting hammered again on the next down day.

Action Alerts Plus senior analyst Jeff Marks said that he agreed with Cramer.

"So I think we are moving into this oversold condition, the down day [Wednesday] if we get another [down day Thursday] that will help. And then what you'll see is sort of this oversold balanced that you hear of. So essentially what's going on is when, when we get to a certain point where we are in this oversold condition you'll have the people who were short the market [then] they'll cover and when they cover their shorts you'll get this oversold bounces, which was almost like what you also saw yesterday," explained Marks. 

Related. Jim Cramer: Trump Has Decided That China Is Failing and He Will Never Relent

Watch Jim Cramer's Daily NYSE Show and Replays Below