Big declines for the week for the major European stock indices
The European major indices are ending the session with mixed results for the day. For the week gets a different story as shares plunged across the European continent.
The provisional closes are showing:
- German Ibex, -0.19%
- France’s CAC, +0.61%
- UK’s FTSE 100, +0.14%
- Spain’s Ibex, +0.4%
- Italy’s FTSE MIB, +0.3%
For the week, the provisional closes are showing:
- German DAX, -8.5%
- France’s CAC, -6.4%
- UK’s FTSE 100, -4.7%
- Spain’s Ibex, -6.5%
- Italy’s FTSE MIB, -6.9%
Looking at the daily chart for the German DAX, the lows this week scraping along the 38.2% retracement of the 2020 trading range. That level comes in at 11472.22 the low today at 11450.08 dipped below that level, but rebounded back higher by the close. Move below that level next week would be more bearish.