EUFN broke it's downtrend last week. It appears Europe is leaving it's secondary correction. Similar patterns have appeared in France, Spain and the UK. EWQ, EWP, EWU respectively.
The next chart is the Nasdaq % of stocks over the 50 day moving average. It is set for a test of the 200D MA from below. That is a hurdle to clear in the short term.
Late last week I was preaching the less is more mantra. That's still the case for position traders as we embark on one of the most significant macro weeks of the year.
There are lots of earnings being pumped out, the Fed meeting and announcement (this is the most significant Fed meeting since 2011), jobs report, ISM numbers and on and on.
It's not to say do nothing, but odds will be better with some more clarity. Keep in mind, at this point, the world markets are trying to start a move higher. Good luck out there.
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