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Europe viewed from across the pond: Video from European Financial Forecast

An arm of Elliott Wave International, this video of the editor of European Financial Forecast looks at EU stock indices noticing the 10-year gaps between their highs.  This reminded me of the 10-year gap between the Nikkei 225’s peak in 1990 and that of FTSE 100 and a handful of others in 2000.

More importantly, these indices provide a superb example of Charles Dow’s theory that the indices must confirm each other.  A level playing field provided by EU law, financial strictures and obligations, and common goals, it’s most interesting to see market reality as compared to current media hype about a European Renaissance.

Brian Whitmer also looks at sentiment indicators to see whether these confirm – or not – Elliott Wave counts and chart patterns.  Investor sentiment as euphoric as it was in 2000 and 2007 is something to be concerned about.  So too is the ultra-cheap level of European high yield financial Credit Default Swaps.  Again, looking for a confluence of factors that confirm each other.

Watch the video by clicking this link

Posted in Finance, Markets, STA charts, STA news, Technical Analysis, Trading
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The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA. The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. None of the information on the STA’s blog constitutes investment advice.

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