CAC 40: choppy without trend (short term basis)

Long term basis: lower

On a yearly basis, stochastic and MACD could continue to be overbought for two periods or more. As long as MY (end of period) proves to be a resistance, the main trend is not bullish.

On a quarterly basis, LQ / UQ spread is shrinking. A PEI is in progress with our moving averages.

On a monthly basis, no PEI or NEI is in progress.

Idea: not bullish as long as our monthly M23 is not up

Bet: nothing to do.

R= MM (3495);    S= LM (2729), 2400, – – -.

Medium term: flat

On a weekly basis, Bollinger bands spread is shrinking. A bearish no-crossover could develop with our moving averages.

Idea: higher as long as our stochastic is not overbought

Bet: moving averages status is the key.

R= MM (3495), UW (3503);               S= LW (2893).

Short term: choppy without trend

On a daily basis, Bollinger spread is above a reference one.

Idea: towards UD if PD fails as a resistance

Bet: UD is our main resistance.

R= PD (3220), UD (3284);     S= MD (3182), LD (3080).

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