It seems like European stock indexes decided to take a break today after reaching 15-month highs. Last week, investors were reassured by the Federal Reserve’s decision to start another round of quantitative easing (QE3).
· Stoxx Europe 600 dropped 0,4% down
· FTSE100 lost 0,15%
· DAX depreciated by 0,14%
· CAC40 is down by 0,4%
The chart below, courtesy of , reflects the current state of affairs in the market of FTSE100. The index is probably forming wave 4. A break above 5933 will indicate wave 5. The closest major levels of support are 5862-5807.
