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.
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.
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