Below is an updated table, as of 2:15 p.m. EDT, of important support levels for the EAFE Index (EFA) we originally presented on May 21. The bears still have an edge given the red boxes below. A good step for risk assets would be to change those boxes back to green.
Both the equal-weighted S&P 500 ETF (RSP) and German stocks (EWG) look like they could fall another 2% to 3% relative to support levels on their weekly charts. As shown below, RSP is challenging important weekly levels currently (above point A). The MACD (point B) and rate-of-change (point C) have not improved enough to drive much bullish interest yet. RSP also sits just above its 50-week moving average (thin blue line).