So far, the European Markets are playing out exactly as expected.  These are the updated daily charts of the $FTSE & $DAX along with the previous two chart for reference (prices reflected as of Friday’s close).  These patterns are about as clean as they come as these updated charts show, the $FTSE & $DAX have a clear pattern of stair-stepping higher in these wedge patterns.  While both major indices are getting close to my first bounce targets, I do believe that those level will ultimately give way and open the door to additional downside, especially if/when the US markets begin to follow suit.