Ripples Out of Europe

I view the European markets as an early warning signal for the US.  Usually, the first signs of weakness show up in the weakest equity market, which is Europe.  Considering the weakness out of Europe, it is a bit surprising that we are only down 2 points on the ES.  This topping process will take a while.  I won't force anything here, I am sitting back and waiting for more obvious setups.