We have had quite a bearish start to 2016. A lot of these setups that I have been following are starting to play out.
Remember what I have been saying in my blog? I said the most important thing to look at is the bond market. This is where we see the reaction to the Fed rate rise. Bonds up = stocks down. The reaction to the rate rise should have been that bonds went down but the timing of the rate rise was completely wrong. I have been saying all along that if the Fed does raise they will have to reverse it soon after. It looks like that will turn out to be correct. I don't know how long they will wait. If they even give a hint of having to reverse there could be a large reaction in bonds.
The $DJIA weekly has broken below support
$RUT weekly has broken below support
$SPX weekly is below support and testing the flat kijun sen
$HSI weekly Hong Kong Hang Seng is headed for a test of key support.
$DAX weekly is below support.
$ASX weekly is in range.
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