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CAC 40 backs off in early trade

Some you might be wondering why the focus here on the CAC 40 over the past couple of weeks? Well, there is good reason for that folks, because it is the driver for all the European markets and with a potential massive shift in French politics in the offing soon, it is the market to trade and focus on for sure, hence the coverage here above the usual level. So, the CAC 40 did open higher this morning, but that was always going to be the case. So, far it seems that some players at least have taken this higher level to sell once again. Of course the US markets may yet scupper those sellers, like they did yesterday, but that is not to detract from why those players are selling in the first place- they are worried about what comes next and ultimately the US stock markets may not stop water from running down hill. So, the CAC reopened today at 7,636. It traded to a high at 7,641 and has since backed off. The index is currently trading at 7,592
 

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