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CAC 40 CFD

CAC40: Still Short from 4506... Nothing to fuel the upsideWe 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 to hit hard, painful low, and unless ECB announces an European QE which is not the case. We may think that if ECB lowers its interest rate bellow 0%; saving may fly to the market, but bellow 0% f interest rate, it means deflation, it means that economy is not catching up in the Eurozone, etc.... So anyway, at least a short for a technical correction.
INDEX:CAC40Short
by Pashabxl
CAC40, the tricky index of the WeekIt 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 French economy which by the way is not the case. Keeping in mind that there are European Parliament elections in France on May25, I may think that CAC40 is artificially high, hold that high by French banks in order to limit the effect this could have on Front Nationale. I think that after May 25, and with the outcome of the French EP elections, CAC40 would loose serious ground.... Let's see....
INDEX:CAC40Short
by Pashabxl