Euronext Brussels Bel 20 Index Chart 1:
24 November 2013, Sunday, 11.25am Singapore Time
Chart Courtesy of Chartnexus
Chart Courtesy of Chartnexus
The Euronext Brussels, as well as many markets in Europe, broke up important resistances and it became obvious that one should go long or buy. Many trading programs worldwide bought on break-up of previous Euro Crisis Resistances. These simple retailer algorithms, less superior Big Hands algorithms and later comers need to be flushed out by the market. It is a law of survivor of the fittest, a Charles Darwin Law that will be in play. Weak hands, especially investors who are mentally weak, will have to withstand psychological mind games and be flushed out in this correction that is in progress with more to come.
Euronext Brussels Bel 20 Index Chart 2:
24 November 2013, Sunday, 11.25am Singapore Time
Chart Courtesy of Chartnexus
Chart Courtesy of Chartnexus
Together with Euronext Brussels Bel20 Index of Belgium, majority of Europe have hit their price satisfaction zone during the Eurozone Financial Markets' Rebound since 2011. A correction has to be in place now. The depth of this flush-out will then confirm if Eurozone Cyclical Bull or Secular Bear is to be at work for the next few years.
Euronext Brussels Bel 20 Index Chart 3:
24 November 2013, Sunday, 11.25am Singapore Time
Chart Courtesy of Chartnexus
Chart Courtesy of Chartnexus
Euronext Brussels Bel 20 Index Chart 3 will guide you on what to expect from end of year 2013 to early 2014.
This correctional sell-off that is anticipated since early November 2013 will find a temporary support in early-mid December. Euronext Brusels Bel20 Index is expected to find a temporary footing at 2740-2780 points (together with world markets) as a temporary end to Wave A Correction. Wave B Christmas rally will set the festive mood right in Europe and US during light volume trading. This will then be greeted by a Wave C sell-off resumption in this short-mid term correction to welcome 2014, during which everyone will judge that Eurozone as well as world markets are bearish. Euronext Brussels Bel20 Index is expected to find bottom at 2600-2632 points.
In essence, Wave A-B-C will lead all analysts to judge a confirmed downtrend (applying standard technical analysis) and call for a public sell, a time when the correctional bottom will be in place for everyone to sell while the smart money buys on fear for resumption of the larger upwave.
Hello ! Thank's for your comments. What's your view on SPX500 and DJ30 ? Your view would be very helpfull ! Thank you in advance.
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