Asia Pacific indices
Australia 200 bounced up off of 5,300 support once again, but continues to struggle with 5,410 resistance and has fallen back toward 5,360. A breakdown from this range would signal a new downleg that could retest a double bottom near 5,140.
Japan 225 keeps rolling downward with resistance falling from near 20,600 toward 20,280 as it nears the bottom of its 19,925 to 20,980 trading channel. RSI breaking down through 50 confirms a downturn in momentum.
Hong Kong 43 continues to get slammed to the mat, falling down through 23,000. Although some support has emerged near 22,950 a retest of the July low near 22,775 appears increasingly possible.
Hong Kong China H is breaking down again, taking out its July low near 10,665 to signal the start of a new downleg that could complete a round trip back to the October low near 10,020 and potentially test the 10,000 round number.
India 50 is holding steady near 8,500 just below 8,525 resistance having held support in the 8,420-8,440 area.
North American and European Indices
US 30 has been all over the map lately diving under 17,300 toward 17,275 then rallying up into the 17,500 to 17,525 area before sliding back toward 17,415 a Fibonacci level. RSI still under 50 indicates downtrend intact.
US NDAQ 100 has bounced around between 4.490 and 4,550 indicating indecision among traders over which way to go next. RSI sitting on 50 confirms lack of a decisive trend.
US SPX 500 briefly breached its 200-day average near 2,080 but then roared back, rallying up from 2,075 up toward 2.909 before stalling. Index remains stuck in a 2,035 to 2,135 trading channel with RSI confirming sideways momentum.
Germany 30 is breaking down again today, diving through a Fibonacci cluster near 10,810 to signal the start of a new downleg that could retest the July low near 10,665 with next potential support after that near 10,435. More recent trading between 10,690 and 10,750. RSI confirms downward momentum accelerating.
UK 100 has retested 6,500 as new resistance, falling toward 6,460 with a retest of 6,410 where a prior low and Fibonacci level cluster looking increasingly possible with next support after that near 6,390 then 6,320. RSI confirms downward pressure increasing.
Gold is breaking out today clearing $1,126 Fibonacci resistance to signal the start of a new uptrend with next potential resistance near $1,142. RSI above 50 and rising confirms momentum turning increasingly upward. Support rises toward $1,127 from $1,117.
Crude Oil WTI is breaking down today. Declines accelerated after the price broke its March low near $41.35 to signal the start of a new downtrend that could potentially retest the $40.00 round number or the 2008 low near $35.00. RSI oversold but confirms ongoing downward pressure.
US Dollar Index has turned downward once again falling into the 96.40 to 96.60 zone after faltering short of 97.00 resistance. RSI failing at 50 and turning lower again confirms downward pressure increasing.
NZDUSD has been firming up taking advantage of USD weakness to pop up from $0.6550 toward $0.6620 as it continues to build a base between $0.6475 and $0.6775 a 23% retracement of the last downleg. RSI advancing on 50 confirms downward pressure easing and an upturn pending.
AUDUSD has started to attract renewed interest popping up from $0.7310 toward $0.7370 but it really needs to clear $0.7445 for the pair and 50 on the RSI to call off the current downtrend and signal a recovery play. Channel support remains in place near $0.7250.
USDJPY is turning downward once again with the pair breaking 124.25 a Fibonacci level and falling toward 123.90 with next potential support near 123.30. RSI breaking under 50 confirms momentum turning downward.
EURJPY is sending mixed signals. Higher lows for the pair and RSI suggest continued accumulation but the recent rally faltering at a lower high short of 137.90 a Fibonacci level suggests distribution. Currently trading between 136.40 and 138.80.