All the charts are 34 months and each bar is one month. They have 8 months MA and 21 months MA. A Bear Market in my definition occurs when the 8 MA turns down. When the 8 MA crosses the 21 MA on downside there is a Definite Bear Market. A bear market can be reversed if the index moves very strongly on upside and forces the 8 MA to turn up. During 28 years I have never seen that. When 8 MA definitely will cross the 21 MA or has done so there is no way back for many months.
DOW is moving up and down the falling 8 MA and can change the bear trend.
SP500 is trading between the MA:s and have difficulties to get above the 8 MA
DAX, first chart below,will most likely become a definite bear market Dec 1. The same will happen to FTSE, second chart. SWED, third chart, is in a definite bear market and so are MIB, IBEX and CAC.
I do not believe that European markets will be in a definite bear market alone. The US indexes will follow according to fundamental factors that will be evident soon about the locked political situation and many other things which I believe will surface when the European debt crisis has lost interest in the media.
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