Greece Leads the way

The weakest of markets are once again trending downwards creating risk of another round of global equity selling. And it starts with Greece.

Greece broke the previous swing lows extending wave counts for a bigger decline to come in the coming weeks.

 

Brazil has been in a narrow trading range and on watch for starting the next leg lower in the next few days.

 

Mexico retraced 61.8% of the previous decline and is now selling off again.

So it remains to be seen if what has started in Greece again spreads to other Euro countries and whether commodity based nations start a wave 3 down like Australia and Canada

Australia - has the look of a H&S structure but confirmation is needed from prices at this level

Canada - 2 deep sell offs being retraced each time prices are now at the upper bollinger band.