EUROPEAN MARKETS ARE GAINING AND GAINING AND...

This is the first time since 2009 July the European markets have risen for 8 days in row. Greece and Spain are outperforming and showing very strong bullish momentum.

The Bloomberg's European 500 index came up to a perfect 61.8% retracement of the 2007-2009 collapse. European stocks have been retraced 61.8% fibo level of their 2007-2009 losses.

In the meantime the Europe's VIX dropped to 9 month lows (below 16%) yesterday. Technically I am more optimistic in short and middle term in the European markets compared to the US markets. I see great potential further in Europe in FTSE and in AEX, the Dutch index.

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The BFM Assets Team.