The worst first week of the year for the markets ever was a surprise to a lot of people, but it should not have been a shock if you have been following my blog. This is something I have been anticipating and posting about for quite some time. I said mid 2015 that I believed the market was in a major top reversal but we had to wait for confirmation. I believe we are now close to having that confirmation. There are a lot of geopolitical stories that I have been following. It is all becoming clear as pieces of the puzzle fall into place one after the other. The key piece of the puzzle is yet to present itself. When it does I will post about it here on my blog.
The Dow Jones weekly chart has confirmed the rejection off the domed house resistance. Just looking for it to make a lower weekly low below support.
The NYSE monthly looks like a lower low lower high but need to see the monthly candle close below support to be confirmed. I have been saying how the monthly MACD has been crossed down all of 2015 which is a dire warning. The chikou has now crossed down also.
The Nasdaq weekly chart was the last U.S. index to hold above the weekly kumo. It has now closed below the weekly kumo. Looking for a break below support.
S&P 500 weekly on this chart closed just below support with MACD crossed down. This is now a lower high lower low.
Russell weekly has closed just below support. Notice the head and shoulders reversal. Now have a lower high lower low.
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