The uptrend in the global market may have reversed to downtrend, at least in the short term.
The S&P 500 index may have reach it peak on 26/01/2018 at 2873 and is currently travelling in a downtrend channel. It hit a lower highs on 27/02/2018 and may test the support at 2580.
It is also in the process of forming a double tops with neckline at 2580.
The German DAX index is clearly in a steep downtrend and is also testing the neckline of a double tops at 11800.
Similarly, the STI may have reached its peak on 24/01/2018 with a lower highs formed on 27/02/2018.
A head and shoulder pattern is in the process of forming with its neckline at 3353.
These are signs that the 10 years bull market may have ended and give way to the bear market.
I am staying at the sideline to watch who will emerge as the clear winner before I enter the market again.