From last night close, the percentage of stocks trading above their 200 day simple moving average is above the 50% mark. Given over night action from North Korea, the more weakness is expected. These conditions indicate weakness and most of the times corrections are expected.
From the picture below, you can see that from 714 instruments that I track around the world, 395 are below 200 Day Simple Moving Average and 229 are bellow. 281 above 14 Day Simple Moving Average and 344 below 14 Day Simple Moving Average.
Gold hits more than nine-month peak after N.Korea missile test