Posted by: stockscooter | November 20, 2012

France to Fall – Oui?

It looks like the France ETF has tough times ahead, which must bode poorly for their country.  Oui?

The chart below has my 3 first-to-turn indicators (blue circles) all turning negative on this monthly chart, encompassing about 7 1/2 years.  The red circle shows a flat-lining trend for this ETF.  Moreover,  the E-wave count is bearish.  It’s set for a possible 3rd wave down, of a third wave down.  It could get ugly really fast.  The decline could reach below decade lows.  Oui?

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