The moment I write this analysis of the weekchart of the CAC40, the week has not finished yet. Nevertheless there is a clear picture which I want to share with you, week finished or not. On the chart you can see a brake out from the rising trend on the way up as from the end of 2011. The 50% Fibonacci retracement level around 3800 has been touched after wich the indice went back up to re-test the bottom trendline. This socalled “kiss of death” could be the end of this long term rising trend and a beginning of a downtrend. The indice likely would re-visit the 50% Fibonacci retracement level if not lower to the 61.8% retracement level. In any case a good chance for loosing 10 to15% the next months.