Pullback, Dip or Start of a Correction?

The volume indicates this was a heavy distribution day. I doubt it very hard that we've seen the short-term bottom. Russell corrected +5% already, they are leading the downtrend.

Momentum stocks like IGC, OGEN were correcting for the second day in a row, giving back +50% since their highs.

Momentum Stocks

Some momentum stocks going wild today were IGC and OGEN, insane moves for these 2 lately. In the mean time, some other momentum stocks that were doing well in the last couple weeks, are starting to break down: AMD, ROKU, TLRY, TNDM...

Big Divergence

What an amazing divergence between small caps and other indices, see below. The Russell 2000 keeps pulling back while other indices are near (or at) new highs. That's minus 3% for the Russell 2000 since the recent high!

 

Like a Knife Through Butter

Nikkei225 went through 24000 bearily without any pausing:

Nikkei225 Still Going

24000 was not the end of the line, although a pullback would be healthy.

Nikkei225 at 24000

In only 8 trading days from 23000 to 24000.

EUR/USD

The euro is right at resistance, looks good to go.

Oil and Update on Nikkei

Oil seems ready to take out the 70-71 area, next resistance around 75.

And Nikkei: nice action over 23000. 24000 next before a retest lower?

Nikkei Above 23000

Nikkei225 is, after several attempts, finally breaking out above 23000 points. Almost straight up since 22000, so I expect a retest of the breakout area. Resistance will become support, if all goes well.

DAX: Head- and Shoulders Pattern Developping?