Pashabxl

CAC40: A correction before the long run

FX:FRA40   CAC 40 Index
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The market was very euphoric with the deal concerning Greece and FED's PResident Yellen who has declared that there will be no interest rate increase decision for the next FED's monetary policy meeting ie , there is room until the third meeting in June 17th before Yellen and FED's decide for an eventual increase of interest rate, which I do not think it will occure any time soon before 4Q2015.
On the other hand ECB is preparing its QE that will be effective on March 6th             . therefore until then, the market will make a little correction, buyers will sell in order to take profit of their gain, and seller will sell. :-)
The correction may go until 4653 bellow which it may be an initial sign of a reversal.
But on a pure chartist approach, it is just a little corrction because there is no apparent and imminent Tenkan-Kijun twist nor Kumo Cloud Twist, and the lagging span is very far from the rpice.
Good call Pasha!
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