For the U.S. markets, we wanted to focus on the weekly sell signals that were generated a few weeks ago, and therefor avoided trying to catch the short-term turns. Both the S&P 500 and Dow Transports have rallied back to their ellipse resistance zones, so we need to see how they trade into this area. Both the DAX and Italy's FTSE MIB have both cleared their ellipse sell zones with good momentum. We are back on the bullish call for these markets. The Nikkei remains resilient and on target for the 23000 zone.
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