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Why I'm looking to short Euro Stoxx: Lucas
Steve Lucas of 3cAnalysis is looking to sell the September 16 Euro Stoxx futures.
Lucas points to that Monday’s 2 ½ month high at 3,065 has attracted sellers at the 200 day average rate and that the market in the process has formed a daily Shooting Star, which is a sign of bullish exhaustion.
Lucas says that Tuesday’s signals were bearish and they have confirmed Monday’s reversal – ending a sequence of higher daily lows.
Steve Lucas is selling at the market and at 3,034 with a stop loss at 3,042. His target is 2,940.
FULL DISCLAIMER
NOTIFICATION ON NON-INDEPENDENT INVESTMENT RESEARCH AND RISK WARNING
01:20 minutes
Tags: eurostoxx50, futures, saxobank.com, saxotradergo, short, steve lucas 3c analysis, tradingfloor.com
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