CAC at the descending trend line created by previous 2 highs. Lower highs with lower lows suggests continuation of downtrend, much like the Norway OBX.
Looking at the tops of 2000, and 2007, it is interesting to see where we are 06. Nov 2014 in price and time related to these two former tops. Calculating the time from the Sept. 2000 to the October 2007 top, and then extend the 85 bars from 2007 to November 2014. Markets can be due for longer correction. Adding the pitchfork shows the index streched on price....
Question? What wil lfuel the market? As far as CAC40 is concerned, ECB's cheap money with low interest rate is still on the table with an all time low interest rate. LTRO's program has been reinforced with T-LTRO but despite this, there isn't yet the proper signal or believe from the market that things are good. Therefore, unless there is a strong impetus given...
At the very moment, baring in mind of the timing, the economic outlook, CAC40 is facing a correction as forseen in my previous analysis. We are in a double top formation with the neckline at 4100 and after a pull back, we may be at around 4050-3900. Bellow that level, it would be a change of trend. But there is still cheap money in the market particularECB...
As forseen since Mid June, CAC40 is in a correction process. There is no breaking news in the market, and the summer sell-off continues. Therefore, the correction process may continue until 4100, bellow that leval and in particlar bellow 3850 it is rather a consolidation and a clear reversal of trend rather then a correction. If this happen, ECB would intervene...
The French index has confirmed the down move as you may see on this ichimoku. Although the index is trying to make a little upside correction, the general trend remain on the downside until 4200 at least.
CAC has faced a normal correction phase until 4280. At that level, indicators show clearly that we are at an oversold level. Bare in mind that ECB may be able to announce an ABS with an amount and a timing. Therefore the second correction phase may slow down. Initialy the first correction was at around 4350 and the second one at 4180. Because we are at an...
Well, everything is said in the Chart and I try to draw the forthcoming move of the Index. We are still in a correction phase until 9450 or around, which would be approxm a 5% correction.
Yesterday the index broke through it's 50 day EMA, however because of independence day it opened lower this morning, so it will be interesting to see how index will open next Monday to see if the CAC has really broken through the resistance. If so I'm going long, and I will target 4550. Please share your opinion in the comment section.
I hate to start by saying, "as foreseen in my previous studies....." So for those who are familiar with my daily studies and forecast, here is a little update. CAC is clearly oversold. Therefore we may see a little upward jump but this should not exceed 4510-4515. My Thought is that we may be at around 4480 before the correction continues. Targets are...
CAC40 is facing a little correction. It is not a reversal of trend but just a natural correction. Lagging span is crossing the price, Tenkan Kijun twist has been achieved and needs to be confirmed. The twist has been made outside the Kumo cloud which means that the momentum may be relatively sharp on the down side. But on the long run, CAC is still on the...
With cheap money on the market, a possible European QE, low interest rate, CAC has still a good perspective. Nevertheless, the index has finaly entered to a correction phase....
Here we are. As forseen for several days, the correction on indexes has been ignited. SPX has started the initiative following by DOWI DAX NASDAQ CAC SMI and tomorrow it will continue with IBEX35. On the other hand, VIX jump up one to a sudden. The midway to the correction may be around 1840-1820. Here we are.... At last....In the mean time those who are...
CAC has started to initiate the technical correction I have forseen for the last weeks. The process has been slow because of ECB's intervention, the expectation raised before and the political situation in France. Indicators show clearly that we are in an overbought level and the correction process has started. Fibo retracement could be used as target and...
CAC had a very classical pattern from a raising channel to correction. This has occured at least three times for the last 18 month. When CAC cannot enter into a raising channel because of lack of momentum, or hesitation from the market, it enter into a trading range channel where you buy at around 4400 and sell at around 4500. But since the ECB expectation and...
CIX is always a nice counter mesure tool to confirm the direction of the indexes. The market was too overconfident and VIX was at its lowest level. But there are initial signs on a technical level that show clearly the reversal trend i.e VIX may move up, and indexes may move down. STOCH and MACD give the hint. We need to see a confirmation if it is just a...
CAC40's was on an excessive level. Above 4506, it is a very illusive and excessive level as far as I am concerned. YOu can clearly see on my previous studies that my headline goal was 4506. I could have reviewed this level if ECB was clearly announcing a European QE which will not yet be the case. Having said that, on a purely technical aspect, the index may face...
As forseen, ECB announced that a European QE is not yet on the agenda of the European Central Bank. Frankfurt is more concerned about their inflation target and they may soon move with a step regarding the interest rate. There is nothing to fuel the market . So a correction may be forseen and seems very realistic. Bellow 4475, the market would go towards 4350 and bellow.