The CAC40 intermediate term TREND line is broken at 3,799.
Coming out of the Hedgeye MACRO morning meeting, France (EWQ) is our top SHORT idea. France is taking on Mexico today. While France is the higher ranked team by FIFA at #9 (Mexico is #17) les bleus have been somewhat out of sorts lately. Coach Domenech’s approval rating is at a similar level to that of Nicholas Sarkozy.
While the referees will be watching closely for any French handballs, we will continue to hold the French accountable for their piling debt upon debt upon debt.