European Stock Indices Cannot Find Common Dynamics

European stock indices are trading without common dynamics today as investors are waiting for major news from the USA. The US authorities will make an interim decision on the “fiscal cliff” issue. Another major even is a Fed Reserve meeting.

·         FTSE 100: - 0,1 % down to 5912,43.

·         CAC 40: + 0,2 % up to 3618,29.

·         DAX 30: no major changes so far - 7528.

The chart below, courtesy of , reflects the current state of affairs in the market of EURO STOXX 50. The index went down to 2560, probably in the form of wave [c] of (2). If the supposition is correct, we may see a major rally in the near future. The critical level of support for this scenario is 2562.