The Shadow of the Bear is spreading around the world.
France printed a failed daily cycle today.
Germany delivered bearish follow through to its failed cycle.
Spain also delivered a failed daily cycle …
Both the Nasdaq and the Russell also confirmed failed daily cycles today.
Can the S&P be far behind?
Stocks closed above the lower daily cycle band on day 8 to indicate a new daily cycle. Stocks peaked on day 9 then formed a swing high on day 10. The day 10 close below the lower daily cycle band signaled that the daily cycle decline had begun. Monday was day 14 for the daily equity cycle and stocks continued lower. Stocks need another 3 weeks before they enter their timing band for a daily cycle low. So stocks can trend lower for the next 16 to 31 days before printing a daily cycle low.