The UK equity market has rolled over, and looks set for a decline of at least 10% to the big 6k level this spring/summer. The US Dow'30 looks set to follow..as early as next week.
UK, FTSE, monthly
USA, Dow, monthly
So..we have the shaky UK market already getting a bearish MACD cross on the big monthly chart, and thus...a lowered rating of MARCON 6 - the first time since Oct'2012. Downside to the low 6000s looks a pretty easy target, whether that is this spring..or the summer.
Dow set to break 16k
The Dow remains the weakest of the USA indexes (despite the recent declines in the R2K, Nasdaq), The Dow has not seen a negative MACD (green bar histogram) cycle since Dec'2012. As ever, how we close the month, we be all important.
On any cyclical basis, we're more than due at least a moderate multi-month down wave.