17 August 2016 at 7:14 GMT
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.