Germany & France send concerning message to the States!
Could weakness in Europe send a concerning message to stock bulls in the states? Yes they could!
Before getting started let me make this clear, stock markets in Germany, France and London remain in long-term up trends.
Below looks price patterns that Germany and France are creating since the lows in 2011-
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Did a major fake out take place by both of these markets 60-days ago? Might have!
Both markets broke above 2015 highs a couple of months ago, which looked like upside breakouts were taking place at each (1). Then selling pressure took place and key reversals by both, are now in play.
Weakness has continued and both markets are breaking rising support at each (2), that was created off the lows that took place at the start of 2016.
If both continue to fall in price at each (2), a domino effect could take place and create selling pressure in the states.
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