At the close on Friday, DJ Eurostoxx 50 was below next resistance; Daily OB/OS momentum was close to fully overbought.

Short-Term (days/weeks): still positive for the DJ Eurostoxx 50
The DJ Eurostoxx 50 was sharply higher last week, breaching resistance from the 2022 high.
At the close on Friday, DJ Eurostoxx 50 was below next resistance; Daily OB/OS momentum was close to fully overbought.
No sell signal—the short-term uptrend (days/weeks) for the DJ Eurostoxx 50 remains positive.
See Daily OB/OS Charts, attached, page 6.
Intermediate-Term (weeks/months): positive
Intermediate breadth and momentum indicators for Europe/UK all sharply higher week-on-week at the close on Thursday, including FT All Share and DJ Stoxx 600 Intermediate Term Indicators and Money Flow of the Average DJ Stoxx 600 and FT All Share Stock.
The DJ Stoxx 600 and FTSE were both sharply higher week-on-week at the close on Thursday. The DJ Stoxx 600 breached trend resistance from the 2021 high and is well below next intermediate resistance ; the FTSE breached resistance from 2019 highs and is now near resistance from the 2017 highs.
See Weekly Charts, pages 7 and 8, attached.
Sharply higher Europe intermediate-term indicators of breadth and momentum accompanied by accelerating improvement in Europe equity indices suggests that the intermediate trend (weeks/months) for Europe equities is intact.
Key Takeaway: the intermediate outlook (weeks/months) for Europe equity indices remains positive.