World Market Indices from 52 Week High/Low

How much have major stock markets worldwide dropped from their 52-week highs after yesterdays 2-4% drop?

Source: Google Finance, WSJ

Where do we go from here? Most bearish commentators expect a 20-30% correction from the recent peak (52-week high) before another sustained rally… Can we expect another 5-15% drop? Is the correction almost over or are we in for more downside?

Yesterday I pointed out the bearish technical signals on the S&P500 charts which – here are charts for some of the markets above with similar signals (mostly bearish)

UK – FTSE 100

Chart Souce: stockcharts.com

Japan – Nikkei 225

Chart Source: stockcharts.com

 

Canada – TSX Composite Index

Chart Souce: stockcharts.com