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WhiskeyTangoFoxtrot3

Channel broken a bit early, but could indicate bear market

CAC 40 Index (TVC:CAC40)  
WhiskeyTangoFoxtrot3  
TVC:CAC40   CAC 40 Index
Trend Analysis Beyond Technical Analysis Harmonic Patterns CAC 40 CFD france frenchstocks cac40neutral cac40short cac40long cac40prediction cac40index cac40trading
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trendanalysis beyondta harmonicpatterns cac40 france frenchstocks cac40neutral cac40short cac40long cac40prediction cac40index cac40trading
My call on CAC40 is changed from long to neutral now that global markets are increasing their fear on a global slowdown. This is evident in markets around the world as Asian markets plunged today as did European. US is set to be down as well. Overall, the channel break is incredibly disheartening for those expecting higher gains as it was a huge move down (3 percent). If you were not in this trade closer to the bottom, you may have missed your chance. If you didn't sell before this dip then you may have made some money. For those shorter-term traders, you may have already missed the train. We could get back in this channel tomorrow, but that seems unlikely. I'm actually more neutral to short than neutral, but Trading View only gives us three options so I prefer not a drastic shift from long to short. Let's see what happens over the next few days.
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