Global Stocks Under Pressure
Second post today includes a few more charts all focusing on equity market weakness, that is quite similar to the conditions developing with the MSCI Emerging Markets Index. Firstly, before reading the post, I would like to link you back to the warning on this blog, in that equity markets were at risk of a correction.
When priced in US Dollars, the following countries are now either breaking down or close to breaking down: Australia, South Korea, Mexico, India and finally Indonesia (which we discussed two weeks ago). Few more are also quite close including Canada, Turkey, Thailand and Singapore amongst others. In the US, Dow Transports are correcting while Dow Industrials are down for the year.
Chart Of The Day: Many global markets are breaking support levels!
Source: Short Side Of Long