European Bear Market Rallies Peaking Here?

by Kimble Charting

Are bear market rallies peaking in Europe? Very possible!

This 3-pack looks at stock indices from Germany (DAX)France (CAC-40), and London (FTSE-100). Each index declined more than 20% from highs earlier this year, reflecting that each entered into bear markets.

Each index hit lows in March, similar to stocks indices in the states and counter-trend rallies have taken place.

The bear market rallies have each index testing a Fibonacci retracement level at each (1), where bearish reversal patterns have taken place of late.

Has each index experienced a bear market peak of late at (1)? Possible!

If each index starts to experience selling pressure at the Fibonacci retracement levels, odds increase counter-trend rallies have peaked.