With a plunge over the last seven days, the French CAC Index ($CAC) broke below its March low and reached its lowest point of the year. Also notice that the index formed lower highs in May and early July. The breakdown reflects the current debt problems in the Euro zone.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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