A very aggressive sell off Wednesday for the Euro Stoxx 50 the pan-European benchmark stock index, through 3464 for an intermediate-term bearish shift.
This also keeps the threat lower for Thursday.
For Today:
· We see a downside bias for 3390/88; break here aims for 3373 and 3358, maybe 3332 and 3316.
· But above 3421 opens risk up to 3443, maybe 3460 and 3483.
Intermediate-term Outlook - Downside Risks: We see a downside risk for 3316.
· Lower targets would be 3270 and 3213.
· What Changes This? Above 3508 shifts the intermediate-term outlook back to neutral; above 3577 is needed for an intermediate-term bull theme.
