The ability of central banks to balance growth and rate hikes has also weighed on European indices over the last few weeks but at this stage its nothing more sinister than consolidation of the strong gains earlier in the year, a very similar look / feel to the ASX200. The technical picture is interesting unlike the price action of the last 6-months:
- MM is a keen buyer of the STOXX in the 3900 area, or 6% lower, while we would look to de-risk around 4500, or 8% higher.
MM remains bullish European indices into 2022
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