Let me be clear about this, London and Germany remain in rising trends (higher lows) since the lows in 2009. A little weakness at resistance the past couple of weeks has NOT broken this trend.
The Power of the Pattern does feel it is very important what these two indices do in the next few weeks, as short-term support is attempting to give way. If weakness continues in these important markets, would be surprised if it doesn’t spill over into stocks in the states.
Bulls want to see the FTSE break above resistance line (2) in the top chart and the same for the DAX at (1).
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