I continue to observe most key global stock indices breaking down from well-defined bearish patterns and still believe that it is only a matter of time before the US markets follow suit. I plan to update the charts on many of these key global indices throughout the day, starting with the Frankfurt Dax Index (daily time frames) below, including a few of the previously posted charts for reference. As far as the targets that I have been listing on many of the global indexes, these are only the current targets that I believe have a high probability of being hit in the upcoming weeks/months. Only as/if prices begin to approach those targets will I be able to assess if those will likely be the final targets, before the primary uptrends in those indices resumes, or if additional downside targets are likely.
For those receiving email notifications of new posts, I will suppress the notifications on the remaining indexes until the last one is posted so feel free to check the site throughout the day if you have an interest in any of the non-US markets. I continue to be very preoccupied with various backend programming issues on the site as well as a few other things and as such, it may take a little longer than usual to reply to any emails this week. $DAX daily charts in order as recently posted below with the updated chart (not yet reflecting last night’s drop) last:
