Dow Jones Euro Stoxx 50 is undergoing a correction. Breach of medium-term support at 3500 indicates hesitancy but the primary trend remains upward. Twiggs Trend Index and Twiggs Money Flow both look similar, with a sharp decline in the last two weeks. Respect of support at 3400 remains likely and recovery above 3500 would suggest an advance to the 2015 high at 3800*.
* Target calculation: 3650 + ( 3650 – 3500 ) = 3800
The Footsie and DJ Euro Stoxx 50 display a similar correction. My bearishness for the former primarily stems from the Pound weakening against the Euro.