- Market Twists & Turns by BraVoCycles Newsletter
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- International Markets - Continued
International Markets - Continued
What’s Up with French Market?”
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Today we will be covering...
What Happened on Thursday?
A sharp drop on Thursday reversed strong gains on Wednesday. In the last premium newsletter, I commented that Fed’s Day gains are typically reversed the next day. It happened again.
It seems that the focus is no longer on inflation and the Fed and that bad economic data is no longer good for stocks. There has been a change in market character. We shall see.
Friday's economic data release may cause some additional volatility.
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Notice: Parts of EWQ analysis did not show up properly yesterday, so we are repeating it today with some additional analysis.
EWQ – French Market ETF
Continuing the series of International/European markets, today I will show the French market ETF prospects.
EWQ has a 40W target of 35+/-1.9, which will be hard to invalidate, IMO, despite the bounce in progress.
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EWQ Cycles
The daily cycles are not clear, but the 3 dominant cycles extracted from the weekly chart send a clear message.
EWQ Technical Analysis
EWQ likely topped in Primary-B in May.
The black Elliott Wave count is my best guess/interpretation of the wave structure. Because of the gap, I allow for the alternate blue count.
Notice a negative divergence in RSI at the top in May.
The ECB cut the rate in June. European markets usually trend down after the first ECB rate cut.
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