This monthly chart of the Euro STOXX 50 failed to make a higher high in 2017 and has held below trend lines from 2000 and 2007; two very important global market junctures indeed. It appears now to have held within a massive Symmetrical Triangle and a failure to bust the Triangle and make a new high would imply a drop to the lower Triangle line, at least.
But we might also wonder whether the double top from 2015 & 2017 is a failure of more epic proportions. Just one concern being that if European stocks have not rallied against a weak Euro what the hell are they going to do if it strengthens?
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