Our web coverage of France is courtesy of our French correspondent J-F. Richard, Editor of BOURSE ANTICIPATIONS. [Fax (33) 1 60 75 31 80]

Foreign investors may invest and trade France in a number of ways, through Country Funds (FRF), WEBS (EWQ) and individual stocks with ADRS such as AXA, FTE or LVMHY.
Frequently, these forecasts apply equally well to the S&P.500 or CAC40. 

Exchange Information  Paris Bourse CAC 40 


A powerful rebound took its rise Thursday March 4, in particular bringing back the CAC 40 towards 4180 points. It seems that the technical recovery that we consider over the week of the 8 to the 12 already started. Most probable is that this rebound continues the next week. Let us note on this subject a strong graphic resistance around 4200 points, but it appears completely possible to pass above. In this case of figure, the following technical objective would be a return towards 4300/4350 points and we cannot exclude that it is reached. A passage above 4200 points would constitute an undeniable signal of technical purchase of short term and a many graphic analysts would then consider an objective towards 4500/4550 points. Such a hypothèse, taking into account our signals haussiers of the next week, is not completely to draw aside... For as much, while remaining on a purely graphic level, we already knew a situation absolutely identical end January (left with the rise a triangle of uncertainty): a beautiful signal of purchase short term was " theoretically " to lead us to 4480 points. Each one knows what it is occurred by it: after a fulgurating rise from approximately 4% in a handle of meetings of January 27 at February 1, the market fell down like a stone while giving up -10%. It seems to us that an identical scenario should be repeated and that the CAC 40 cannot thus not exceed the 4350 points. This schema seems to us most coherent with our scenario bear until end mars/début April. *********************************************************************************
In any event, we always regard the markets as being dangerous and, in our opinion, plus the current recovery will continue to be brutal, strong or forces, plus the unhooking which should follow would be it then as much and even more ********************************************************************************* When can we consider possible the end of this rebound and the beginning of the unhooking most significant that we envisage this winter? To provide a very total indication, let us note that it is possible in an early way Wednesday 10 or Thursday March 11 or tardily between the 15 and on March 18 in last end. Also let us specify that the meetings of March the 10 and 17 are for us meetings hinges, which are to be taken as possible bench marks for sudden conversely of tendency. Let us note finally that the dollar is in particular to supervise. If there should a priori remain overall firm the next week, we estimate that it is probably its later fold which should allow the purging from at least -15% until we wait on the CAC 40 during next weeks.

Abstracted from Bourse Anticipations #52 February 1999

MIDTERM FORECASTS - March/April: -15/25%  CAC 40 ~ 3500

LONG TERM FORECASTS - September: -30/40%   CAC 40 ~2800/2500


Always to check with your licensed financial planner or broker before acting upon the recommendations of the Astrologers Fund, Inc or its associates. This is just the starting point of your research. and you must carefully investigate before you buy/or sell.
Return To Main Menu