Global markets appear headed for a secondary correction, with only Japan and South Korea showing any resilience. All others reviewed display a large bearish divergence on (13-week) Money Flow. And the Hang Seng Index signals a primary down-trend, warning of further weakness in China.
USA
Dow Jones Industrial Average
The Dow is headed for a test of 10000. Clear breakout below the lower border of the (rising) broadening wedge formation would offer a target of 9000 — the base of the wedge. Money Flow (21-day) reversal below zero would strengthen the signal. Recovery above 10500 is unlikely, but would indicate another advance.
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