Charts, Stock Markets

So far the scenario for the S&P described a week ago is playing out nicely - as today price closed below the neckline of the Head & Shoulders, only 3 % above my first target (and expected bounce point)

The weekly chart of the EuroNext Amsterdam AEX idnex shows that last week is represented by a large bearish outside bar, not an encouraging sign for the bulls.

The daily chart of the Philadelphia Semiconductor Index (SOX) shows that this index is getting close to an important point (the lower band of the large channel), which I expect to break soon.

The daily chart of the S&P 500 index shows a possible scenario for the coming months.

The DAX futures only have a little bit to go before completing an ABCD move, which should mark the end of this upward correction. Almost swing short time!