Here you have an interesting picture.
Please go back in history to understand the outcome when we had a similar same picture in USA. Sellers in Asia and EU, later buyers hold and buy the US markets.
Now the SPX is 1.1% from all time high
Regards,
Mario
What happened the last time the markets had that trend?
Aggressive price action. Buyers and Sellers could not agree to price and we moved away from balance.