Source : Reuters lire le PDF
"It may take a few of days to build a base but it looks like we're going to have another top for 2013 in Europe," said Valerie Gastaldy, head of Paris-based technical analysis firm, Day-by-Day. She expected the Euro STOXX 50 to reach around 3,000 points in the next month.
"We don't have clear confirmation from the U.S. and Japan but Europe is outperforming so much that a 3 percent upside in the U.S, for example, may mean a 6 percent upside for Europe."
Valérie Gastaldy added that a switch out of U.S. and into "higher beta" European shares, which tend to outperform rising markets but underperform when markets fall, signalled investors were at the most bullish in many years and a rally the began in mid-2012 was entering its late stage.