It was interesting to observe CAC40 this week. Despite the move down of DAX30
, DJI, SP500
, NSDQ, event Eurostoxx, CAC40 try to stick upside at a range between 44500 and 4500. MACD
shows that there is no momentum, no more steam to keep CAC40 that high up. But STOCH
shows that there is a try to keep it up at 4500 as if this range would be a proof of a healthy French economy which by the way is not the case. Keeping in mind that there are European Parliament elections in France on May25, I may think that CAC40 is artificially high, hold that high by French banks in order to limit the effect this could have on Front Nationale. I think that after May 25, and with the outcome of the French EP elections, CAC40 would loose serious ground.... Let's see....