Vive la France! (Well, Not So Much)

07/05/16 08:50AM EDT

In case you missed it ... France officially joined the laundry list of crashing equity market casualties this morning.

https://twitter.com/KeithMcCullough/status/750254912295071744

Some brief analysis from Hedgeye CEO Keith McCullough in a note sent to subscribers earlier this morning:

"European stocks had their bear market bounce last wk (EuroStoxx600 +3.2% on the wk), but have given back a large % of those gains already this week and mostly remain in crash mode, with France’s CAC40 re-entering that risk zone at -1.7% this am (-20.5% from the 2015 Global Equity #Bubble high); Spain -2% to -32% from its 2015 cycle high."

Vive la France! (Well, Not So Much) - Stocks crash test dummies cartoon 02.18.2016

 To be clear, we don't believe the worst is over. Not only in France, but across Europe.

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