CAC Forecast August 13, 2015, Technical Analysis

Paris gapped lower at the open on Wednesday, slicing through the €5000 level. Because of this, we feel that the market is going to continue going lower to look for some type of support. There are a couple of gaps that we have to contend with, so it’s only a matter of time before a supportive candle shows up, and at that point in time we are more than willing to buy the CAC as it is typically one of the better performers that we follow out of the European Union. With this, we are on the sidelines and waiting patiently.