Shadow of the Bear

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The Shadow of the Bear is spreading around the world.

cac

France printed a failed daily cycle today.

dax

Germany delivered bearish follow through to its failed cycle.

ibex

Spain also delivered a failed daily cycle …

nasdaq

rut

Both the Nasdaq and the Russell also confirmed failed daily cycles today.

Can the S&P be far behind?

spx

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.

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