French Election CAC 40 and EWQ

So, big election this weekend .. ZERO IDEA which way it will go or fall.  However, the blue rectangle is the targets for resistance … it’s been coiling since 2000 in a monstrous triangle.  A weekly close above 5582 will send this  puppy higher …or smack into zone shown and fall after election?

believe these are the levels on the CAC 40 are key.

if we look at the EWQ ETF we can see a little bit more clearer picture:

  • note the 5 waves down into the low of 2009.  usually (the operative word) that signifies a corrective set back and then a resumption of the trend that is causing the 5 waves
  • the blue triangles are showing the sell pattern on the EWQ that hit right at the .618 retracement from the high
  • the dashed blue line is a basic trend line connecting the lower highs .. acting as R right now
  • at the 26.99 level we are completing another sell pattern …
  • so, net net, the EWQ PATTERNS are showing lower

no doubt, it will be a crazy night on Sunday .. enjoy the ride.

around the world …. the song remains the same

cliff notes: not one new high across the world.  Malaysia has given it a good try, but has not “on close” exceeded it’s 2007 high.  the song remains the same …

EWW Mexican ETF March 22 2014 EWM Malaysia EWA Australia March 22 2014 CNY Yuan March 22 2014 EWH Hong Kong March 22 2014 EWC Canada March 22 2014 ACWI Global Equity ETF March 22 2014 FXI China March 22 2014 EWQ France EWG Germany ETF EWU UK March 22 2014 EWJ Japan March 22 2014 EWY Korea March 22 2014 EWT Taiwan ETF EWZ Brazil ETF EZA South Africa March 22 2014 Main20140322103557

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