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CAC40 : The rounding tops show a bearish momentumThe CAC40 is consolidating between 4300 and 4520 pts since the middle of July. The US indices are currently showing weaknesses, and so does the french equity market. The resistance area at 4550, doubled with the other one at 4520, definitely constitute a barrage for the buyers to go higher. The bearish forces are getting a bit stronger as weeks pass, as shown by the rounding tops. The long term moving average (200 days) remains decreasing, which highlights the downside underlying trend. The first steam to break is the ascending trendline (blue). The current price at the CAC40 is high enough to initiate a short position : - Short @ 4460 - Target @ 4315 - Stop @ 4520 (just above the first resistance)
TVC:CAC40Short
by AlexandreNygal
CAC 40 and the world: the End soon after the short at 4700August 31, 2016 Everything is on the chart. It is very precise and you may doubt that it's feasible I know. The lines are not random, they correspond to very specific levels (4700 -> 4450 -> 4500 -> 4280/4310 -> 4450 -> 4084 -> 4300 -> 4090 -> 4180 -> 4084 -> 3709 -> 3904 -> 3556 -> 3477 -> dead cat bounce -> 3050/3100 I would go long now until 4700. Some bad resistance will have to be taken away at 4600 and 4666. It will drop from 4084 to 4709 in a single week. Probably in summer 2017 (August here). The ultimate target is around 3050-3100. Then I would go bullish until 4450 (May June 2019) then reshort a bit. We shall see !
INDEX:CAC40Short
by UnknownUnicorn569872
CAC 40: We have all the long term targets below the short @4700August 28, 2016 (Post Yellen's speech) Everything is on the chart. You know that I am willing to short strongly at 4700. Resistance shall be met at 4600 and 4666. Those would become other very good scalping opportunities for the experienced ones. Don't forget the Bearish Gartley Pattern and the long term Head and Shoulders pattern (not traced on the picture, cf previous posts). It should fall quickly to a strong area at 4450. It could bounce to 4500, another psychological level. But then they would shorting until 4383, resistance will be futile although it's an important level. The CAC 40 shall quickly further its downtrend until 4280-4310. It another crucial level to hold, but it will ultimately become a dead cat bounce. It should become erratic between 4000 and 4300. But hey, after it goes through 4000-4004, there would be a huge drop of 300 points in a single week. It would go up again because of short covering, and then fall to 3556 and 3477. Speculators and some funds would find it an interesting opportunity to buy, since they would believe it's low enough. But some final strings of predictable "bad news" would sign the final blow to the markets. It would collapse sharply until 3050-3104. People would freak out and more stop-loss orders could be triggered. It would go even a bit lower (it's the "visible" crisis, what do you want?)
INDEX:CAC40Short
by UnknownUnicorn569872
Revamp: CAC 40 target 4700? Pre-US GDP and Janet Yellen's speechAugust 25, 2016 Hello folks, so I have mentioned several time the target of 4600 and 4666 regarding the CAC 40. I guess it will be made possible tomorrow Friday thanks to the GDP figure (rigged?) and the subsequent speech by Janet Yellen. However, regarding this week's erratic and incessant fights between bears and bulls to keep 4383 safe, I have set a new potential target that might change slightly the game. I finally understand why it took that much time: my original targets could have been wrong. But now ... after some tweaks, the real objective becomes: CAC long until 4695-4700 is now a more than possible objective. I think there could be selling pressure from both 4600 and 4666. Then I would become extremely bearish and go short the crisis. Here is a slightly messy picture from the CAC 40 (daily chart), but people who followed my previous articles would certainly understand what I wanted to pinpoint here.
INDEX:CAC40Long
by UnknownUnicorn569872