[Tryst]

Would you wait until the weekly close to make an opinion?

You will have roughly the same information by 4.15pm on Friday, as waiting until the weekly close, and so if it was something you were still looking to get into after tomorrows price action, then you'd still have 15 minutes to place the trade before the weekend.

It is going to be very interesting. The UK markets are clearly showing a Stage 3 top, even a break down into Stage 4A and well into a Stage 4 (Food & Drug Retailers sector), yet the US markets are showing a strong rebound.

Historically, has the UK markets ever diverged from the US markets?

Yep, there's plenty of divergences over time. But I'm still not convinced by the US rebound as the breadth isn't confirming it imo. For example the cumulative breakouts minus breakdowns in the S&P 500 has only recovered half of the breakdowns that happened, where the broader S&P 1500 that includes small and mid caps hasn't even recovered half. And some glamour stocks like Facebook and Twitter have been very negative the last few days. So there seems to be people buying the index futures but not as many buying the stocks themselves, and hence I'm very skeptical currently.

Below are the charts of the cumulative breakouts minus breakdowns in the S&P 500 and S&P 1500, and I've included the weekly cumulative breakouts minus breakdowns chart of the S&P 500, which shows as early Stage 3 with a clearly defined range.

Hi Isatrader, do you have an update of these charts since the last week when you posted them?