Click
on charts for larger images
On 7th
February 2012 – just under four months ago - the Paris CAC
40 Index was at 3411.54 (first chart above). Regarding the wedge pattern that
had formed, the forecast stated:
“But if prices begin to
fall below or out of the lower boundary line, then prices will most likely fall
back to at least the 2950 level.”
Prices have now done precisely this (second chart above).
It is remarkable that the CAC40 Index closed this past Friday 1st June 2012
exactly at 2950.47 after going as low as 2922.26.
To see the comments and forecast of 8th Feb 2012 for
The Paris Bourse CAC 40 Index click on the following link to the appropriate
Blog Archive:
As you can see from the latest chart above (the second chart), the
upward correction - or countertrend movement - from the low of 2693.21 on Sept 23rd 2011 - finished on Friday 16th March 2012.
And on this date (16th
March 2012) the greater down trend which began at least
on July 7th
2011 at the high of 4020.33 resumed.
These are truly historical times we are living in and hopefully
I will get the time to post more forecasts soon.
Certainly at the moment it
would seem wise to keep in mind the dialogue from the 1950 Bette Davis movie
All About Eve . Eve is asked “Is
it over, or is it just beginning?". She replies with that most famous line:
“Fasten your seatbelts. It’s going to be a bumpy night.”
http://www.youtube.com/watch?v=XypVcv77WBU
Bumpy indeed. And for more than a night.
Best wishes to all.
James Leo Donoghue
leo_donoghue@yahoo.com.au
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