Major tops are possible in the broad-based Russell 2000 and in the DAX
Tops of significance are forming in the U.S. Russell 2000 as well as in the German DAX.
The Russell 2000 is constructing a complex rounding top pattern. A decisive close below 1060 would complete this pattern and confirm a bear trend.
The DAX is forming a classic H&S top pattern on the weekly and daily graphs — the market is currently in the right shoulder.
Of interest is the horn top that formed as the head in the DAX. I note that the potential topping action in the NASDAQ 100 resembles the horn in the DAX.
It is vitally important to remember that a potential top is just that — potential. These patterns could also serve as continuation formations or could morph into more prolonged chart configurations.
Disclosure: The information in this post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the post, please see my Disclaimer page for my full disclaimer.