Important decision point coming up soon

Copper broke below important support a couple of weeks ago telling us, that the global economy is getting allot weaker. CEOs and economist might not be aware of it yet, but the soon will recognize the fact and we will be in the same situation that we where in 2008.

The Shanghai Composite has confirmed the downturn and broken below a 20 year uptrend line, which spells allot of trouble for the Asian countries ahead. To my Aussie friends, take care as you will feel the pain too. You have enjoy the Government and Central bank intervention more, than anybody else, but the will be a bill to pay and I do think it's about that time or at least the chart tells me, that it's about that time.

The Shanghai Composite is leading the Global economy down into a much lower gear and for sure in revers. Actually I do think we are already in a recession, but officially we are not, and as I said allot of CEOs and economist has not yet gotten the word, but they will soon.

The S&P 500 is at a major decision point and a break below support at 1,110 will open up the downside for a 813 target, but we could easily fall much deeper.

Notice how the MACD stalled and turn down again below the zero-line, that is technical speaking very bad for the S&P 500.

FTSE 100 is more or less in the same position as the S&P 500, but here to the decision point at 4,792 is approaching fast and a break below here will open up the downside for a return to the March 2009 low at 3,473.

Again see the the MACD is not even close to the zero-line and is rolling over to the downside again - Not good.

Finally the long term picture for the German DAX-index. We could be working on a major triangle and if my count is correct we could be in the last leg lower towards 4,268, from where we could begin building a bottom for the next rally. Be aware that we could decline closer to the March 2009 low at 3,589 without destroying the triangle count.

At this point the DAX is one of the weakest index major indexes.