The current technical pictures taken together will soon be decided by the author, if this is the long bear market beginning or if there will be a new test of the highs.

There are still a few questions that need answer whether the bear market in EU and US has started. Most important technical question is if SP500 can take back 955 or not. There are signs that a rally could come up to 989 but other things suggest that there will be a long trading before 955 will be seen as holding. Anyway the indexes are now following each other more or less exactly and we probably will have the answer latest after Friday close. If it is negative the bear market has started.