Chart of the Day: Resistance & Support

JC Parets
July 6, 2022

This might just be one of the most important charts in the entire world.

The resolution here is going to tell us a lot about the underlying trends for stocks.

This is the Euro STOXX 600, a broad measure of European equities, that I like to compare to the S&P1500. This is Europe's version:

I see resistance in 2000, again at the same level in 2007, once again in 2015, then 2018 and finally in 2020.

That's a lot of resistance.

And then last year the Euro STOXX 600 finally broke out to new all-time highs.

After this year's correction, this index is now back to all of that former resistance.

Like our polarity principles teach us, does this former resistance turn into support?

Do the buyers step up?

We discussed this all on last night's live conference call.

Premium Members make sure to give it a watch here and download the slides.

And if you're not a Premium Member, give us a call and the team will get you set up so you can watch the replay: (323) 421-7910

Enjoy!

- JC

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