European stock indices are multidirectional today. Positive economic reports from China reassured investors. However, they are waiting for economic reports from the USA. That is why they stay cautious.
Stoxx Europe 600: + 0,08%.
Dow Jones Euro Stoxx 50: -0,16%.
FTSE 100: +0,14% up to 5790,86.
CAC 40: -0,1% down to 3425,95.
DAX: -0,03% down to 7258,48.
The chart below, courtesy of , reflects the current state of affairs in the market of FTSE 100:
During yesterday’s trading session, the index finished wave 5 inside wave C of a bigger wave level. Then it started a bearish move down to 5763, a major level of support. That is why the index has little chance of developing another bullish 5-wave pattern.
