CAC 40 · Sell Signal not confirmed
CAC (CAC 40): 100-week average lost, new 30-day low confirmed at the weekly close
Our view last week
The CAC, the French CAC 40 ETF, posts its first up week after 6 down, yet the rebound had few buyers behind it: in the weekly bar buying stayed under 25% of volume, and the cluster of averages in the 82-83 area turned it back firmly. A week ago Signal Strength on the sell side stood at 98 out of 100; now it has dropped into the low band. Technical analysis shows a bearish trade setup that has lost its thrust: price action trading plays out between the 81 and 83 areas.
This week's summary
The CAC, the French CAC 40 ETF, turns lower again after last week's bounce, turned back by the cluster of averages in the 82-83 area. The week leaves two price action facts: the close slips just below the 100-week average, and the 30-day low is reset in the 79 area, confirmed at the close. The late-August Sell Signal still lacks the 6% drop, and technical analysis shows a bearish trade setup with limited thrust, sitting right on the weekly Kumo.
Sell signal not confirmed
·review closed on 18 September
·EU-UK Broad indices
·T1
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IQS Phase
67
in tension
Signal Strength
35
medium · weak
ATH distance
10.37%
10.37%
KPI 4
0/3
restricted Platinum content