mardi, juin 19, 2007

Bull or bear?

We see a big battle in the European stockmarkets right now: first a quick drop and then an even quicker rally.
We are retesting the same resistance levels we saw two weeks ago: 400-405 for the Stoxx600-4600 for the DJ Euro Stoxx 50.
We are also still facing the same short term divergences, so we should stay awake and be careful on the short term but...
On the other the leading indicator in Europe (the DAX) is making a new high.
The conclusion of this : don't be focalised on the big indices, there are still lots of opportunities.(technical analysts love this kind of markets!)
For instance technically speaking I 'm bullish on techno and oil stocks but berarish on the EPRA index (real estate-see chart below)

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