#CAC40 #Nasdaq Unlike Germany, the French index has not (yet) made a commitment for serious reversal. Don’t be lulled into a false sense of security as France rarely misses any opportunity for amateur dramatics. At present trading around 5363, it needs below 5250 to suggest trouble awaits anytime soon.
Below 5250 and we’re looking at the potential for reversal to 4990 with secondary if (when) broken at 4780 and ideally a rebound. The secondary should donk against the uptrend since 2011, this alone giving ample reason for a recoil. We do, however, have a problem with the secondary thanks to several opening second manipulation gaps. These gaps in logic mean “bottom” could actually be 4728 points and this gives a large problem, breaking the historical uptrend.
To cut a long story short, it moves the price into a region where the “real bottom” calculates down at 3855 points. Visually, this unfortunately makes sense given historical dips and thus solidifies 3855 as the point at which a real bounce should occur.
Importantly, this is presently a scenario which has not come close to triggering. As mentioned, the index requires break below 5250 to tick the first box in a path which holds quite a lot of misery. We shall be interested, if the index can somehow exceed 5406 points anytime soon. Allegedly, if the price breaks above such a level, we can calculate 5508 as our first ambition. If exceeded, secondary computes at 5630, along with almost certain hesitation.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
9:55:31PM |
BRENT |
60.8 |
Success | ||||||||
|
9:57:42PM |
GOLD |
1501.78 |
Success | ||||||||
|
9:59:43PM |
FTSE |
7290.93 |
‘cess | ||||||||
|
10:02:31PM |
FRANCE |
5378.5 |
5347 |
5331.5 |
5307 |
5385 |
5406 |
5445.5 |
5505 |
5347 |
Success |
|
10:04:27PM |
GERMANY |
11811.45 |
‘cess | ||||||||
|
10:08:08PM |
US500 |
2931.47 |
Shambles | ||||||||
|
10:14:56PM |
DOW |
26330.6 |
Shambles | ||||||||
|
10:41:50PM |
NASDAQ |
7741.12 |
7649 |
7637 |
7589 |
7744 |
7781 |
7799 |
7898 |
7590 |
Shambles |
|
10:44:21PM |
JAPAN |
20761 |
‘cess |