Home Investing Research Are DAX and CAC40 Indices About To Send Big Message to Investors?

Are DAX and CAC40 Indices About To Send Big Message to Investors?

Chris Kimble
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Are DAX and CAC40 Indices About To Send Big Message to Investors?

As we look across the major global stock market indices, we are seeing some divergences appear. And today we highlight one that appears to carry some importance.

While the U.S. stock market indices are far from the 2022 highs, the same cannot be said for the German and French indices.

As you can see on today’s chart, the German DAX and French CAC 40 are within a small percentage of 2022 highs at each (1). This price level represents important breakout resistance. While a pause or pullback could very well could occur, we must realize that a breakout to new highs would be very bullish for these european stock market indices.

As well, a dual breakout would send a positive message to stocks in Europe and around the globe. Stay tuned!

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France CAC 40 and German DAX long-term Charts

european stock market indexes dax cac40 trading breakout resistance chart march 2

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Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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Chris Kimble
https://www.kimblechartingsolutions.com
Chris Kimble is the founder and CEO of Kimble Charting Solutions. His firm provides research for individual investors, financial professionals, 401k managers and hedge funds around the world. He specializes in pattern analysis in stock indexes, bonds, currencies, commodities and individual stocks, using pictures to highlight the opportunity at hand with a touch of humor. His mission is to help investors enlarge portfolios regardless of market direction. Chris has 33 years of experience in the financial industry. He spent 25 years as a financial planner, before turning to helping people capitalize on the Power of the pattern. With a business and psychology background he combines the footprint of pattern analysis with investor sentiment extremes to find opportunities and solutions for investors. You can read more about Chris on his website Kimble Charting Solutions https://kimblechartingsolutions.com/.