Patrick,
Japan is down substantially again and the futures are also down. Looks like the weakness will continue, so far. I rechecked the cycles and this down period should last until Tue/latest Wed.
I still have no technical evidence of a very strong pullback just yet, but should at least be as large as the previous ones if not larger.
Plenty of technical reversal confirmations and techhnical signs of reversals to begin for those sectors which did not drop strongly today.
edit - The COMP, NDX, MSH, IIX, appears to be forming a double top. If tomorrow is down in these indexes, such action will be a strong confirmation of an interim top. Also, with double top formations, recall that pullbacks after such formations can be strong, so this may be the first signal that a bigger pullback could happen. This was an edit and contrary to what I indicated above that I saw no signals of a bigger pullback.
Seeya
Seeya |
