Getting ready to short Stoxx 50

[SunTrader]

that is true, do you see it shooting back up tomorrow?

No. Likely continue lower or sideways/flattish heading into weekend, looking ahead to next week to see if the U.S. gets its act together and raises the debt ceiling limit like it always does in the end.

 

[Master Pu]

I presume you are doing swing trading.

The European market is rather bullish.

look at CAC40. It keeps on breaking record high.

Price action in CAC is also weakening, I am aware that it has popped through ATH...

CAC, just like DAX & STOXX, has got a whopper of a divergence on weekly chart, it's going down, now that Germany entered a recession serves as confirmation, to me, that the weekly divergence will have legs.

My target would have been 6,650 in CAC.

 

[Master Pu]

Germans are making a sound effort to negate the bearish signal on the weekly chart, good luck to them and to me

 

[SunTrader]

Looks shaky to me.

 

[Master Pu]

CAC about to take out support, I am still seeing DAX/STOXX initiating their corrections.

 

[Master Pu]

All euro indices ought to decline soon, perhaps a controlled one.