European major indices close near session lows

Early gains are erased

It is month-end and there has been pretty decent amount of volatility in the markets as London/European traders look to exit.
For the stock markets in Europe, they are ending the day/month at/or near the session lows. The final numbers are showing:
  • German DAX, -2.22%
  • France’s CAC, -2.12%
  • UK’s FTSE 100, -3.50%
  • Spain’s Ibex, -1.89%
  • Italy’s FTSE MIB, -2.09%
For the month, it was a rebound month for the major indices:
  • German DAX, +9.32%
  • France’s CAC, +4.0%
  • UK’s FTSE 100, +4.04%
  • Spain’s Ibex, +2.02%
  • Italy’s FTSE MIB, +3.75%

The gains this month are certainly welcome after the sharp declines year-to-date.  Even so, the major indices are still down sharply on the year:

  • German DAX, -18.02%
  • France’s CAC, -23.52%
  • UK’s FTSE 100, -21.76%
  • Spain’s Ibex, -27.51%
  • Italy’s FTSE MIB, -24.74%
Looking at the German DAX on the daily chart, the price high today was the highest level going back to the gap lower on March 6/9.  The price also moved above the 50% retracement of the move down from the February high yesterday.  However that break of the midpoint level could not be sustained and the price is closing below the 50% level.