BET ON THE EUROPEAN INDICES

Do you remember for last spring. We had only bad macro news from Europe. Cyprus bailout, spanish, greek, portuguese record level unemployment, German disappointing GDP. I remember well. Last May I met with an American floor trader from Chicago and a dutch investor. We had nice discussing about the markets and the dutch guy really believed in the European rally, I was pretty agree with him, but the American trader was totally sceptical about any rally in Europe. He was laughing at both of us, if we would invest any coin in the European markets. Finally, I made my biggest part of my 2013 profit in the German and Spanish markets.

This year all news are great from EU. We have only stock friendly updates from European macros. These good news mean good news for stocks too. One good news is the fundamental as Eurostat reported industrial production in Eurozone grown faster than expected with 1,8%. This is the biggest gain since May 2010. The fundamental recovery of European economies are continuing. The inflation is not yet imminent is at 0.8% in December, according to Eurostat.

Technically here are some charts below, the common is - except the German DAX - all European indices still lagging so there is great opportunity to buy. They are still good bargain.

Eurostoxx we had a Cup&Handle Formation and took a breakout last week:

FTSE100 had a same Cup&Handle Formation and took a breakout last week:

CAC40 had a same Cup&Handle Formation and took a breakout last week:

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The BFM Assets Team.