ridethepig | Stoxx 50

CURRENCYCOM:EU50   Euro Stoxx 50
📌 Eurostoxx 50 is in question here and we have a good illustration of the ABC outpost. The main target 3,489 is still open for a test but a breakdown here will seal it for the year.

In a nutshell, this is a chart speculating that we are in the very early days of the "C" leg down.

It is the same opening move in play for German Equities, DAX:

This leg down in European Equities will be considered painful for the late buyers; the weakness of the real economy is shown via the following charts.

Unemployment Claims:

US 2's 5's:

Sharp speculators are adopting a wait-and-see policy, the fate of the moves in Eurostoxx depends on the range settlement. Sellers breaking through 3,200 will 'protect' the highs and because of the technical damage done, the flows will finally commit towards +/- 2,475.

As usual...thanks for keeping the feedback coming 👍 or 👎
Comment: French Equities CAC40: