Steve Miley, MSTA
MarketChartist
European benchmark correction theme within intact bull trend
We stated in our last report that “the close of the bear gap and close at the low Friday, signals a very short-term bullish failure, for a more defensive bias early this week. We see risk back down to 3243 and maybe 3214 on Monday/ Tuesday”.
The push through the higher level leaves risk to the lower level on Tuesday.
However, into the week, we still see upside risk, back through the new 3293 peak to aim above for the 3307 high.
The weekly continuation chart high is then see through here at 3327.
WHAT CHANGES THIS?
Below 3214 eases bull risks; through 3186 signals a neutral tone, only shifting negative below 3122.
4 Hour Euro STOXX 50 December Future Chart
Daily Euro STOXX 50 Future Adjusted Continuation Chart
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