I mentioned the potential of a Bear Flag here on the Kiwi in my recent w/e analysis. Some weaker than expected NXD CPI data seems to have kick-started a possible breakout move.

The U/J is still trading within a potential bullish ‘inverse H&S’ on the 4hr charts.

With the key US stock indices attempting a recovery off their recent lows and with the VIX making a retreat I thought it would be useful to check some global indices and put these recent moves into greater perspective. 

The S&P500 had a strong US session and recovered a lot of recently lost ground. I had been thinking we could be in for a deeper pull back here but this may not be the case.

I wrote my first article about the German DAX stock index back on the 21st Aug. As with the S&P500 and DJIA I have calculated a potential bullish target for the DAX but I’m now pondering the chance of a deeper pull back before this bullish target might be attempted.