π Time to Take Some Profits? Europe Pulls Back After a Strong Run π¦
Follow on from our earlier CAC40 post
We posted earlier about the CAC40 but there is more happening in Europe.
After a solid sprint higher, European equity markets are starting to hit the brakes β and our Quantmatix signals are firing.
Since our model flipped positive on VG1 back on April 14th, weβve seen a powerful +11% rally π’π
But now⦠that move looks to be running out of steam
Weβre seeing a short-term negative reversal on VG1 β a classic profit-taking signal β suggesting now may be the time to lock in gains and wait for a cleaner entry point.
π Not Just VG1 β Broader Europe Is Rolling Over:
CAC 40 β Short-term negative reversal π»
β³ Up +7.6% since our last positive signal on April 14th
β³ Room for a β1% to β1.5% pullback, with initial support at 7,727 (50-Day SMA)
β³ Volatility support sits lower at 7,653 (β2.4% from current levels)DAX β Reversal in play π§
OMX β Also rolling over π
π§ Quantmatix Takeaway:
The broader European rally may be due for a breather.
Weβre watching for tactical pullbacks and preparing to re-enter at better levels β²π―
Stay sharp,
β QM Trades