An erratic Thursday session, but a firm dip and bounce from just ahead of modest support we flagged at 3438 to another new cycle high, close to the psychological/ option target at 3500.
Moreover, the push this week above key monthly chart levels from August 2008 at 3474, after the strong rally last Thursday through 3438, another key monthly peak from September 2008 has further re-energized the bull theme for the month.
February risk (today?) is higher to the key 61.8% retrace of the entire 2007-09 bear market at 3520!!
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Monthly EuroSTOXX 50 Future Chart