Global market technicals - no sign of a turnaround

The global index technicals remain negative. A number of key global indices generated technical sell signals commencing in early December - Dow Jones, S&P500, Nasdaq, Shanghai Composite and Nikkei. My previous wire (VIEW LINK) early December highlighted that the US market technical outlook in particular had turned negative. Given these index sell signals were generated in rapid succession was a negative momentum indicator. Although the Dow Jones, S&P500 and Nikkei have subsequently reached the minimum sell signal downside targets, importantly there is no sign of base forming.