Euro Stoxx 50 no buy signal generated, but we did hold important support although the bounce which was hardly exciting. First resistance at 3350/53 then 3375/78. Try shorts and either stop above 3390 or add to shorts at 3410/20. I need to see prices close above 3420 to even think about a decent recovery.
Failure to beat 3350/53 targets 3330/26 before the 3312 low on Friday but best support for today at 3298/88. It is really the only area I would think about trying longs BUT YOU MUST BE READY TO REVERSE IN TO SHORTS IF WE SEE A BREAK AND CLOSE BELOW HERE. THIS WILL BE THE BIGGEST SELL SIGNAL SINCE WE COLLAPSED BELOW THE 200 DAY MOVING AVERAGE A MONTH AGO BUT IS FAR MORE SERIOUS. WE ARE TALKING POTENTIAL CRASH CONDITIONS. A break below the February low at 3256 is obvious confirmation of the sell signal.