ECB President was very clear. There is yet no sign of growth in Europe and worst, a risk of deflation. Refi interest rate has been lowered, and even on the deposit rate, ECB decided to go to a negative rate, like BoJ did in the past. One can think that money withdrawn from the saving accounts would go on the market, but the market is very week, with no growth...
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...
We came at the very limit of what CAC40 can reach. Above 4506, there is no technical, macro economics, micro economic or market justification. Having said that, of course, at the end of the day, it is the difference of weight between buyers and sellers. So far, it appears that buyers are at majority in the market. However, if Bears pull the trigger, it's going...
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.
CAC40 had a great mechanical growth based on QE3 and the reform made by CAC40 companies. My headline goal was 4506 and we did arrived to that level. The market is trying hard to go above 45XX but without any succes. If the attempt was starting when CAC40 is at around 4400 and the W%R at the limit of oversold such as betwwen -80 to -60, then ,there would be an...
Crucial times are very close now. Will wait for the closing. If the $CAC close above his support and Fibo 23.6%, we could play the upside move to 4514pts. If it close below I'll short the $CAC. My 1st target will be 4345pts.
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 ...
The Chart clearly shows a double top pattern.... If we observe the RSI, it appears the there is a possibility that the bull trend can reverse and we may be on the eve of that reversal.