We came at the very limit of what CAC40 can reach. Above 4506, there is no technical, macro economics, micro economic or market justification.
Having said that, of course, at the end of the day, it is the difference of weight between buyers and sellers.
So far, it appears that buyers are at majority in the market. However, if Bears pull the trigger, it's going to hit hard, painful low, and unless ECB announces an European QE which is not the case.
We may think that if ECB lowers its interest rate bellow 0%; saving may fly to the market, but bellow 0% f interest rate, it means deflation, it means that economy is not catching up in the Eurozone, etc.... So anyway, at least a short for a technical correction.
Having said that, of course, at the end of the day, it is the difference of weight between buyers and sellers.
So far, it appears that buyers are at majority in the market. However, if Bears pull the trigger, it's going to hit hard, painful low, and unless ECB announces an European QE which is not the case.
We may think that if ECB lowers its interest rate bellow 0%; saving may fly to the market, but bellow 0% f interest rate, it means deflation, it means that economy is not catching up in the Eurozone, etc.... So anyway, at least a short for a technical correction.