DJ Euro Stoxx 50

The big sell off yesterday in European stocks follows the 5 wave rise completion that I discussed especially in the CAC. Here I show the same of the European stock average the DJ Euro Stoxx 50 index. The daily/weekly momnetum are in sell mode and s drop to the 40 week average near 3230 and the lower channel on this chart at 3300 are the first normal expectations. Below 3300 we would confirm a trend reversal based on this structure. Note how the recent top is near the wave 4 resistance zone.