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Technicals - European indices - potential for buy signals to be generated

Angela Mangan

QMG Pty Ltd

The European indices - Eurostoxx 50, DAX and CAC - had simultaneously generated technical sell signals on 13/6/16. Given these sell signals were generated in a cluster was a clear negative technical momentum indicator for the European market outlook. The subsequent sharp sell off resulted in the nominated downside technical targets being reached on 24/6/16 and 27/6/16. The potential has now emerged for these key indices to simultaneously generate re-entry technical buy signals. These will obviously need to translate from potential to actual buy signals, but given the potential (for buy signals) has emerged in a cluster is significant. Situations where a "cluster of signals" have been generated within a particular sector of the market, or at a regional level, has previously been accurate in identifying major turning points. The European indices are under close watch.

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Angela Mangan
Angela Mangan
Technical Analyst
QMG Pty Ltd

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.


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