S&P500 @ new highs for this rally......however

DAX Daily Chart @ close July 27 2012

The NDX100, DAX & $SML are yet to scale the heights of their recent highs, unlike the ascendant S&P500.
Notably the DAX remains under the influence of that Outside Down Reversal day from the previous Friday that signaled the early weakness witnessed this last week.

Lower Indeed for the averages...DAX gives a 'signal'.

German DAX Daily Chart as @ Close 07/20/12

The Red Circle captures the "Outside Down" Reversal Friday; together with the NDX100's 'non- confirmatory' McClellan stats Thursday...well maybe the 'Bears' can get some yardage out of this potential turnover?

S&P500 Support lingers down @ 1333/40 defining a pause as against a  meaningful reversal.

NDX100 @ +1.14%/ IXIC @ + 0.80%...& yet?

IXIC Daily Close @ 07/19/2012

Distorted day's performance; as the $SML & R2000 both posted declines amid the small gains for the Big-Caps Indices.
A NEGATIVE 'print' for the McClellan Oscillator for the NASDAQ (IXIC) belies the 0.80% gain and together with the -4.79 'print' for the NYSE McClellan suggests a 'Major Move' is afoot and that may just be 'lower'???

It's an ill wind that comes in from the East.....

SSEC Close @ 07/16/2012

Forget about Europe; this where the main game is going to be played out for all of us.

Ditto for the NDX100 as well?

NDX100 @ Close 07/17/2012

Whilst closing higher by 0.57%; the NDX100 under performed the broader S&P500, as did the S&P600 & Russell 2000.

The merging 50/200day SMAs shall be where the 'tale of the tape' lies.

DAX hesitation......too nuanced to 'make the call'?

Germany's DAX @ Close 07/17/2012

Against the backdrop of China's rhetorical Wen & potentially 'knee jerk' buying post Bernanke's testimony; is the DAX interpretation too 'nuanced' a view to call the turn here and suggest a 'short' is in order? We'll know soon enough. 

DAX: "Strange days indeed"..........

German DAX Daily @ Close 07/13/2012

The 50/200day SMAs are crossing negatively, yet the market looks quite 'healthy' Short-Term to challenge the recent high @ 6642.

The Bearish Engulfing Weekly pattern from the previous week is still valid and commands respect until 'invalidated'.

Shanghai drops another 2.37%.....

$SSEC Daily Close @ 07/09/2012

We 'know' the risks out of Europe; do we really know the risks from China?

This could be more widely watched than the Olympics over the northern summer???

The DAX has its say.......now what?

German DAX: Weekly Chart @ close July 6 2012

The DAX has 'form'; so ignoring it is @ one's peril.
It does NOT mark the absolute high come Monday; there is room for retraces of the losses suffered Thursday/ Friday....so patience as usual.

NDX100 only back to previous Week's high....

NDX Daily @ Close 06/29/2012

For ALL the 'good news' @ the 19th 'confab' in Europe regarding moving the 'jello' around the plate.....we are only back to the highs from mid-June........
Another 'pop & drop' rally?