Using the DAX as a proxy for Europe, I mentioned recently that using my standard of momentum-based TLs, Europe has entered into its bear market. (I've shown recently that all three major financial markets/bourses - DAX, CAC 40, FTSE 100 - have broken their momentum indicator line UTLs.)
While the DAX had a decent performance this week, both the price and the momentum indicator lines failed to close back above the TLs that marked the beginning of the bear market.
The Fed raising interest rates next week should be the final nail in the coffin (and no Brexit deal with the EU won't help either)...
Edited by tsharp, 22 September 2018 - 07:58 AM.