The CAC40 (France) for 14/08/2019

#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.

FUTURES

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

 

13/08/2019 FTSE Closed at 7250 points. Change of 0.33%. Total value traded through LSE was: £ 6,237,208,615 a change of 31.47%

12/08/2019 FTSE Closed at 7226 points. Change of -0.37%. Total value traded through LSE was: £ 4,744,103,828 a change of -22.18%

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