CAC 40 Declines for 4th Consecutive Session
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CAC 40 Declines for 4th Consecutive Session

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Talking Points

  • The CAC 40 Declines for 4 th Consecutive Session, Trading Down -1.56%
  • Support is Found at a 88.6% Retracement Value Near 4,257
  • Sentiment Continues to Read Extreme at +2.36

CAC 40 4Hour Chart

CAC 40 Declines for 4th Consecutive Session

(Created using Marketscope 2.0 Charts)

What's next for equities market? Find out more with our analysts Free forecast!

The CAC 40 is trading lower for the fourth consecutive day, and is currently down -1.56% on the session. Currently 36 of the 40 listed CAC components are trading lower, with Arcelor Mittal leading the decliners by trading off -4.75 %. Currently, the Index is moving off of the lows of the day as international equities markets are reacting to this morning's US NFP data release. Expectations for this morning's NFP release were set at +200k, however missed with a release of +160k.

Technically, the CAC 40 is now finding support after printing today's low at 4,224. Support has been identified as a 88.6% Fibonacci retracement, as measured from the April 7 th daily low at 4,211.80 to the April 21 st high at 4616.50. If prices remain supported here, it suggests that the CAC 40 is setting up for a retracement at the beginning of next week's trading. Conversely, a breakdown under this low, opens up the Index to continue its decline in its previously mentioned price channel. In this scenario, traders should look for prices to potentially challenge the April 7 th low, followed by a move towards next daily support near 4,115.80.

Find out real time sentiment data with the DailyFX's sentiment page .

SSI Data ( speculative sentiment index ) for the CAC 40 (Ticker: FRA40) remains extreme, currently reading at +2.36. When taken as a contrarian indicator, these positive extremes suggest that there may be further price declines in store for the CAC 40. In the event of a bullish retracement, traders should look for sentiment totals to move off of these extremes back towards more neutral values.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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