EUROPEAN STOCKMARKET TECHNICALS TURN NEGATIVE
The FTSE, DAX, CAC indices generated technical sell signals last Friday. The expectation is for further downside to occur. It is an extremely negative technical / momentum indicator for the European region market outlook that three key indices have simultaneously generated technical sell signals. The sell off has continued overnight. (A previous illustration of a technical regional theme emerging was Asia in mid-2014, given the generation of index buy signals in rapid succession by the Nikkei, Hang Seng and Shanghai Composite indices. This accordingly flagged the potential for a major rally in the Asian region).
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.