Major World Indices

How the world major indices looked at this early stage of major wave (II) consolidation?
US indices in general has not gone below the lower trend line at this moment. Theoritically these indices still remained in the uptrend channel. I am expecting a slight rebound before the indices breaking the lower trend line.

European market indices are rather bearish at this moment. All the three major indices as shown below has broken the lower trend line.

Some major Asian market indices have broken the lower trend line such as Hang Seng and STI, but the rest have remained within the channel. Most bearish is the Korean KOPSI which is about to form a downtrend channel, all it needs is another low that is lower then its previous low.

European markets are taking a lead in the Wave (II) correction. I expect the US indices to break their respective lower trendline soon with or without a minor rebound. Once the Dow breaks the lower trendline, all the rest of the indices will follow. Keep cash and wait for the last train to ride the wave (III).