Foreign Stock Markets Consolidate Too

David Spurr
updated | Author's Website

US markets seem to resemble the Hang Seng (^HSI) more closely than the Nikkei (^N225).  The dates of the bottoms correlate more closely; the patterns are similar.  Both symmetrical triangles that are in the process of resolving themselves.

I will be watching for a sign as to which markets are going to break first, or provide us with information.  The Australian market has shown very high volume recently. It’s in a consolidation pattern, similar to S&P 500 (^GSPC) as well.

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