{"id":17661,"date":"2018-12-07T07:43:15","date_gmt":"2018-12-07T07:43:15","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=17661"},"modified":"2018-12-07T07:43:15","modified_gmt":"2018-12-07T07:43:15","slug":"europe-cracks-but-us-steady","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/","title":{"rendered":"Europe cracks but US steady"},"content":{"rendered":"<p>Dow Jones Euro Stoxx 600 followed through below 350, confirming a bear market in Europe. A Trend Index peak below zero warns of strong selling pressure. Expect a decline to test 305\/310.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-12-06-stoxx3.png?w=525&#038;ssl=1\" alt=\"DJ Euro Stoxx 600\" \/><\/p>\n<p>The Footsie broke support at 6900, signaling a primary down-trend, while a Trend Index peak at zero warns of selling pressure. Expect a decline, with a target of 6000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-12-06-ftse.png?w=525&#038;ssl=1\" alt=\"FTSE 100\" \/><\/p>\n<p>US markets are high on volatility but low on direction.<\/p>\n<p>The S&amp;P 500 continues to range between 2600 and 2800. Breach of 2600 would warn of a primary decline but rising volatility does not flag immediate danger. A large trough above 1% extending over at least six to eight weeks, however, would warn of elevated risk.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-12-06-spx.png?w=525&#038;ssl=1\" alt=\"S&amp;P 500\" \/><\/p>\n<p>The Nasdaq 100 shows a W-shaped bottom above primary support at 6500. Declining Money Flow is still above the zero line suggesting that the sell-off is secondary in nature.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-12-06-ndx.png?w=525&#038;ssl=1\" alt=\"Nasdaq 100\" \/><\/p>\n<p>Last week I mentioned that bellwether transport stock Fedex had breached primary support but quarterly Fedex Express package shipments were rising in August 2018. Statistics for Q2, to November 30, are due for release on December 18 and I expect will reflect a robust economy.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-12-06-fdx-volumes.png?w=525&#038;ssl=1\" alt=\"Fedex\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dow Jones Euro Stoxx 600 followed through below 350, confirming a bear market in Europe. A Trend Index peak below zero warns of strong selling pressure. Expect a decline to test 305\/310. The Footsie broke support at 6900, signaling a primary down-trend, while a Trend Index peak at zero warns of selling pressure. Expect a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Europe cracks but US steady&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3761,57,33,34],"tags":[3781,1362,1481,2401,3969,3010],"class_list":["post-17661","post","type-post","status-publish","format-standard","hentry","category-gdp-and-activity","category-stock-markets","category-uk-europe-countries-regions","category-us-canada-countries-regions","tag-dow-jones-euro-stoxx-600","tag-fedex","tag-ftse-100","tag-nasdaq-100","tag-package-volumes","tag-sp-500"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Europe cracks but US steady - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Europe cracks but US steady - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Dow Jones Euro Stoxx 600 followed through below 350, confirming a bear market in Europe. A Trend Index peak below zero warns of strong selling pressure. Expect a decline to test 305\/310. The Footsie broke support at 6900, signaling a primary down-trend, while a Trend Index peak at zero warns of selling pressure. Expect a &hellip; Continue reading &quot;Europe cracks but US steady&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-07T07:43:15+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-12-06-stoxx3.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Europe cracks but US steady\",\"datePublished\":\"2018-12-07T07:43:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/\"},\"wordCount\":183,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-12-06-stoxx3.png\",\"keywords\":[\"Dow Jones Euro Stoxx 600\",\"Fedex\",\"FTSE 100\",\"NASDAQ 100\",\"package volumes\",\"S&amp;P 500\"],\"articleSection\":[\"GDP and Activity\",\"Stock Markets\",\"UK &amp; Europe\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/\",\"name\":\"Europe cracks but US steady - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-12-06-stoxx3.png\",\"datePublished\":\"2018-12-07T07:43:15+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-12-06-stoxx3.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-12-06-stoxx3.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/07\/europe-cracks-but-us-steady\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Europe cracks but US steady\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.\",\"sameAs\":[\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\",\"https:\/\/www.instagram.com\/colin_thepatientinvestor\",\"https:\/\/au.linkedin.com\/in\/colintwiggs\"],\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Europe cracks but US steady - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Europe cracks but US steady - the patient investor","og_description":"Dow Jones Euro Stoxx 600 followed through below 350, confirming a bear market in Europe. A Trend Index peak below zero warns of strong selling pressure. Expect a decline to test 305\/310. The Footsie broke support at 6900, signaling a primary down-trend, while a Trend Index peak at zero warns of selling pressure. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-4AR","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":17161,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/10\/east-to-west-nasdaq-warns-of-broad-market-correction\/","url_meta":{"origin":17661,"position":0},"title":"Nasdaq warns of broad market correction","author":"Colin Twiggs","date":"October 10, 2018","format":false,"excerpt":"Tech stocks fell sharply, with the Nasdaq 100 closing below support at 7400, warning of a correction. Twiggs Money Flow (21-day) cross below zero indicates medium-term selling pressure. Follow-through of the index below 7300 would signal a correction to test 7000. The S&P 500 has so far respected support at\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":31217,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/02\/26\/global-markets-rally\/","url_meta":{"origin":17661,"position":1},"title":"Global markets rally","author":"Colin Twiggs","date":"February 26, 2022","format":false,"excerpt":"Volatility is elevated and markets have, understandably, gone into risk-off mode. Bitcoin (BTC) found support at 34K, before retracing to test short-term resistance at 40K, but remains in a strong down-trend. Dow Jones Industrial Average rallied strongly to test former primary resistance at 34K. Respect would confirm the primary down-trend.\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"Bitcoin (BTC)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-25-btc.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-25-btc.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-25-btc.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-25-btc.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":17676,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/15\/risk-averse-rather-than-fearful\/","url_meta":{"origin":17661,"position":2},"title":"Risk averse rather than fearful","author":"Colin Twiggs","date":"December 15, 2018","format":false,"excerpt":"The S&P 500 is again testing the band of primary support between 2600 and 2550. Follow-through below this level would warn of a bear market. Volatility (21-day) is in the amber zone between 1% and 2%. A real test of market resilience will be the next sizable rally or advance.\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17528,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/01\/east-to-west\/","url_meta":{"origin":17661,"position":3},"title":"East to West","author":"Colin Twiggs","date":"December 1, 2018","format":false,"excerpt":"The S&P 500 put in a strong blue candle this week but one swallow doesn't make a summer. Follow-through above 2800 would signal a test of 2950. Small bullish divergence on Twiggs Money Flow looks promising but is secondary in nature and may not alter the larger trend. The Nasdaq\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":31457,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/03\/12\/oil-gold-soar-as-equities-plunge\/","url_meta":{"origin":17661,"position":4},"title":"Oil &#038; Gold soar as equities plunge","author":"Colin Twiggs","date":"March 12, 2022","format":false,"excerpt":"Brent crude is retracing to test support at $100 per barrel. Respect is likely and would signal another advance, with a target of $155 -- calculated by extending the range of the last rally (125 - 95) above resistance at $125. DJ-UBS Commodity Index also retraced, testing support at 125.\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"Brent Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-11-crude.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":18644,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/08\/10\/sp-500-flight-to-safety\/","url_meta":{"origin":17661,"position":5},"title":"S&#038;P 500: Flight to safety","author":"Colin Twiggs","date":"August 10, 2019","format":false,"excerpt":"10-Year Treasury yields are near record lows after Donald Trump's announcement of further tariffs on China. The fall reflects the flight to safety, with rising demand for Treasuries as a safe haven. Crude found support at $50\/barrel. Breach would warn of a new down-trend, with a target of $40\/barrel. Declining\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=17661"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17661\/revisions"}],"predecessor-version":[{"id":17662,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17661\/revisions\/17662"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=17661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=17661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=17661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}