Look at special siutations while market remains unconvincing

In commenting on the macro view of the markets this week a couple of charts tell the story. Firstly, the 12 month chart of the Dow shows a clear breach of the uptrend, and a downtrend that is firmly entrenched. Whenever a chart peaks, there is a tussle between the bulls and the bear. This is what has been giving us the volatility we have seen in 2018

Compare the chart of the S&P ASX 200 over the same period, below. Australia was late in joining the party, but then it had a massive run. While the reversal pattern has been similar to the Dow, it has been more aggressive. Could we be bottoming out before the US? We certainly don’t seem to have as far to fall from here. 

 WeeklyComm7April2018.pdf