To start our tour around the world, let's start with the US market. This market only experienced its Dark Cross last week:
Across the Atlantic, the UK market saw a Dark Cross in mid-July:
On the Continent, the STOXX 50 saw its downtrend begin earlier in mid-June:
The Hong Kong market also began its technical downtrend in June:
...as did Shanghai:
The resource based market of Australia saw a Dark Cross in mid-June:
...and the Canadian market, another resource based market, followed in July:
The tour would be incomplete without a look at the other BRIC markets. Brazil had been in a serious downtrend, which began in March:
The Indian market saw a Dark Cross in March and now it has seen a break of a major technical support:
Russia, which has not technically seen a dark cross indicating a downtrend, has nevertheless broken down through a major technical support level:
In this age of rising market correlations, a preponderance of technical downtrends and violations of support levels can't be good news for the bulls. The weight of the evidence indicates that a bear market has begun.
Prepare your portfolios accordingly.