European stocks are under pressure, with Dow Jones Europe Index again likely to test support at 270. Failure would warn of a reversal, while breakout above 290 would signal a fresh advance. 13-Week Twiggs Momentum trough above zero would indicate continuation of the primary up-trend.
The FTSE 100 is retracing to test the lower border of the recent flag on the weekly chart. Breach would warn of a correction to test 6000. Respect is less likely, but breakout above 6550 would indicate an advance to 6800*.
* Target calculation: 6400 + ( 6400 – 6000 ) = 6800
European markets may be under pressure, but they have not buckled. Expect further tests of support, but so far the primary up-trend is not threatened.