----- Original Message -----
From: Laurent Chekroun <LCHEKROUN@makor-cm.com>
To: LAURENT CHEKROUN
At: 25 juin 2015 08:48:36
Tech View European Indices: Euro Stoxx 50, Cac40, Dax30, FTSEMIB & Ibex 35,....
Euro Stoxx 50 Index
· The Index broke out from the declining channel and while above yesterday low at 3,580 a move higher towards 3,690 is likely.
· A sustain move above the 55dma at 3,619 would argue for a move towards 3,690 and a move above the latter would argue for a move towards the cycle high at 3,836.
· On the downside a move below 3,580 would open the door for a retracement towards 3,484, this level represents the low from May 7th and the rising channel support.
· Also, from an Elliot wave perspective the current setup still favors one more leg higher above 3,836 (missing a final wave 5)
Strategy: Step aside for now.
Daily chart
Cac40 Index
· The Index shares a similar setup as the Euro Stoxx 50 Index
· The levels to monitor here are:
o On the upside, a sustain move above the 55dma at 5,054 would open a move to 5,194 and 5,284 and
o on the downside, a sustian move below yesterday low at 5,000 would open a move to 4,712
Strategy: Step aside for now
Daily chart
Dax30 index
· The Index shares a similar setup as the Euro Stoxx 50 & the Cac40 Indices
· The levels to monitor here are:
o On the upside, a sustain move above the 55dma at 11,595 would open a move to 11,920 and 12,388 and
o on the downside, a sustian move below yesterday low at 11,364 would open a move to 11,437
Strategy: Step aside for now
Daily chart
FTSEMIB Index
· From an elliot wave perspective the Index shares a similar setup to the other Indeices and I continue to expect one more leg higher into a new cycel high
· There is an open gap converted at 22,750-22,987 and this area should provdie support
· On the upside, a move above 23,880 opens 24,081 and a move above the later opens the door into new cycle highs
Strategy: Buy 1 unit at 22,990, target 24,490 with a stop on a daily close below 22,590
Daily chart
IBEX35 Index
· The Index is bullish above 10,928 and while above it a move higher towards 12,500 is my favorit case scenario
· The bullish traingel formation marked on the chart argues for a move to 12,500
· There is an open gap at 11,029-11,168 and a move to this level would provide a buying opportunity
Strategy: Buy 1 unit at 11,168, target 12,500 with a stop on a close below 10,928
Daily chart