Foreign Stock Markets Consolidate Too
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.