Capitulation or Continued Weakness Ahead?

Most markets closed deep in the red today (Monday)...including Major World Indices, equities, commodities, and non-U.S. currencies.

We'll see if today's action represents any kind of major capitulation or whether it's a renewed sell-off in all markets...we may gain further insights from market reaction following this Wednesday's FOMC meeting, economic forecasts, and Chair press conference.

Data provided by www.indexq.org

ATRs (average trading range) (shown in white along the bottom of each of these charts below) are spiking on these Foreign ETFs...meaning, we could, either, see reversals sometime soon, or a major plunge if all hell breaks loose in markets, generally.

The following charts are shown without the ATR for clarity of price action and their current levels.