CAC 40 edges above first major correction level above 7,500

Following on from an earlier update on the CAC 40 here is some more colour on the index now rising above a technical level, at 7,499. That price point represented a 38.2% correction of the fall from 8,259, to the August 5 low at 7,029. So, as you can see, where many leading stock market indexes have recovered 50% or even 61.8% and more of their early August losses, the CAC 40 is still very much lagging in that respect. The reasons for that have been mentioned here many times before. The index has now lifted to reach a session high at around 7,515. The next technical level of note is in place at 7,520 (50 day moving average) and thereafter at 7,644, should the current rally extend further. The CAC 40 is currently trading at 7,509