The three major European indices are still tempting to get through their 5 yr downtrend resistances. Charts attached are showing that FTSE and Germany hit their 5 yr resistances and quick selloff from it. They are moving inch by inch higher,nearing to those levels, and may be tempting again to break through these 5yr levels. I am betting that they are not going to break out soon, due to deteriorating Economic Indicators.
Germany,FTSE:
Short Term: Uptrend, Attempting to get into 52week highs.
Medium Term: Sideways
Long Term: Downtrend, 5yr resistance intact
Meanwhile, US indices are in a strong phase, S&P and Dow companies are meeting earnings expectation, and economy is growing in a small but steady positive way. U.S. markets broke out of their 52 week highs and met 13653 for the DOW.
Elliot Wave Count suggest also that a final minor wave v could be
happening quick soon, or may have happened when we got 13653,and is due
for minor to medium type correction soon to form Major Wave 3 of Primary
Wave III Bull Market. Europe is to decide, if Germany and FTSE broke
out of its 5yr downtrend resistances, we are set to revisit DOW,NASDAQ
and S&P’a All Time High. 
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