Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia. He runs training, analysis and resource workshops for retail and professional financial market traders involved in stocks, CFDs, warrants, derivatives, futures and commodities in China, Malaysia, Singapore and Australia. He has his own trading company, guppytraders.com.
Japan's Nikkei had a huge day on Monday, surging 4 percent in 16 months, as investors scooped up bargains after a rout last week.
The Dow Jones entered negative territory, while the S&P 500 and NASDAQ posted their worst weeks since 2012, leading traders to warn of a correction.
Nymex crude oil fell below $90 per barrel for the first time in 17 month last week amid signs of a supply glut, and charts suggest further downside.
Expectations that the Fed will raise interest rates coupled with growth headwinds in Europe have pushed the U.S. dollar index higher.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.