Till 29 Jan 2018, Everything was in order but after that correction DAX & Nikkei got out of sync with SPX500 & Nifty. The divergence is clearly visible and if both DAX & Nikkei breaks the recent low then it could be the start of the next bearish markets which are long pending since 2008. And the EW wave count on NIfty & SPX500 is showing wave 5 of wave 5 ( a top in sight ) and on other hand Dollar Index is becoming bullish day by day. Any further rally in DXY would derail the last standing emerging markets and with it the SPX500.
Note
India's BankNifty Index is now next in line after DAX got out of sync. Banknifty has already broken the elliot wave rules for more upside. And on monthly the charts are looking bad -- For the time being DAX & BANKNIFTY have made multi year top. Who's on the line next ??
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.