Most European stock indices are trading in the red zone. Investors are waiting for major economic reports and do not want to risk their funds until the situation clarifies.
The current market situation:
· Stoxx Europe 600: -0,1% down to 270,51.
· Dow Jones Euro Stoxx: +0,05% up to 2488,34.
· FTSE 100: - 0,11% down to 5823,25.
· CAC 40: - 0,12% down to 3409,57.
· DAX: -0,11% down to 7273,81.
The major reason for the decline is Christine Lagarde’s statement that the economic recovery in Europe isn’t strong enough to ensure employment growth.
The chart below, courtesy of , reflects the current state of affairs in the market of FTSE100:
The recent upswing can be viewed as the first wave of a new uptrend. However, the bears are still dominating the market until the price breaks and consolidates above 5860-5885.
