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The attempted rebound of the CAC 40 on Tuesday will have fallen like a breath, due, in particular, to the banking sector, once again tainted by searches within five financial establishments in France. BNP Paribas, Exane (a subsidiary of BNP), Société Générale, Natixis and HSBC are targeted in the context of preliminary investigations opened at the end of 2021 for tax fraud and laundering of tax fraud. The flagship Parisian index will have preserved very meager gains: +0.14% to 7,088 points.

On the values ​​side, on the CAC 40, BNP Paribas nibbled away at 0.35%, far from its session highs, while Societe Generale lost 1.07% to 19.748 euros. But it is the technology sector that has fallen the most, with files like Cap Gemini (-0.94% to 162.60 euros), Wordline (-1.67% to 37.19 euros), Dassault Systèmes ( -2.61% to 36.04 euros) and STMicroelectronics (-2.91% to 44.51 euros).

In terms of statistics, the highly monitored American consumer confidence index (Conference Board) rose to 104.2, taking the financial community on the wrong foot. The manufacturing index of the Richmond Fed raised its head, while still remaining in negative territory, at -5, moreover.

On the other side of the Atlantic, the main equity indices ended in red territory, in very measured proportions, however, like the Dow Jones (-0.12% to 32,394 points) or the Nasdaq Composite (-0.45% to 11,716 points). The S&P 500, the reference barometer of risk appetite in the eyes of fund managers, fell slightly by 0.16% to 3,971 points, still symbolically below the symbolic threshold of 4,000 points.

A point on the other risky asset classes: around 08:00 this morning on the foreign exchange market, the single currency was trading at a level close to $1.0830. The barrel of WTI, one of the barometers of risk appetite in the financial markets, was trading around $73.80.

To follow as a priority on the macroeconomic agenda this Wednesday, the current home sales in the United States at 4:00 p.m. and oil stocks at 4:30 p.m.


Certainly the 7,000 symbolic points were “saved” in extremis closing Friday. But the red body of the candle, with its amplitude, combined with the power of the trading volumes, precipitated the now imminent crossing of two remarkable moving averages: at 20 and 50 days (in dark blue and orange respectively). The red body Monday 03/27, admittedly thin, contained in the body of the red candle of the previous session, relativizes the durability of the technical reaction in progress, just like the volumes observed, weak.


In view of the key graphic factors that we have mentioned, our opinion is negative on the CAC 40 index in the short term.

This bearish scenario is valid as long as the CAC 40 index is trading below the resistance at 7225.00 points.

The News Bulletin 247 board

CAC 40
7225.00 / 7422.00
7000.00 / 6888.00

Hourly data chart

Chart in daily data

CAC 40: Be careful, fragile CAC!  (©ProRealTime.com)

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