The declines weren't particularly terrible in Europe -- particularly when compared to the US -- but the outside day candles like in the DAX are a big concern.
- Stoxx 600 -1.3%
- German DAX -1.3%
- UK FTSE 100 -0.9%
- Spain IBEX -0.2%
- French CAC -1.3%
- Italy MIB -0.8%
The outside day pattern combined with the macro backdrop is a fairly good indicator that the latest bounce has run its course.
