When looking at the US markets, notice that two of the major averages (the QQQs and SPYs) are now below support. Ideally, the next strongest level of support for all of these is the 200 day EMA.
The German (top chart), Japanese (middle chart) and UK chart (bottom chart) markets are all three in the middle of a rising, counter-trend chart on the weekly chart. Notice the declining volume on the German and UK charts; this is a clear sign of a weakening counter-rally. Also note the weak momentum reading and declining CMF, indicating money is leaving the market. The most likely direction for these markets is lower.
