Whilst both US and EU equity markets were whacked lower today, it remains highly notable that the EU equity indexes are looking extremely bullish for the coming spring. With the DAX already having broken 'up and away', the UK FTSE looks set to break the giant 7K threshold.... with the CAC similarly pushing powerfully upward.
*with 3 trading days left of the month... lets take a look at three of the EU equity markets...
Frankly, the monthly gains are extremely important for both long term investors.. and the short term traders to keep in mind.
The DAX has clearly already broken the 2000/2007 double top.. with an effective back test in the 8000s last October - whilst sp' floored at 1820.
The CAC is powering higher, the giant 5k level looks due this spring.
The FTSE has been stuck just under the Dec'1999 high for TWO years, but now looks set to finally break out. A monthly close in the 7000s.. whether Feb' or March... will be a HUGE bullish signal for the broader world equity market.
Wednesday will be all about the FOMC, which is set to announce at 2pm. Int' rates will of course be left unchanged, but Mr Market will most certainly be ready to assess the latest fed statement.
*I believe there will NOT be a Yellen press conference (those are usually every second meeting)
Goodnight from London