The CAC 40 cash index finished the session up 0.54% at 8,361.46 points, on a modest €3.6 bn turnover.
Paris‑based equities closed in the green after a day of indecision. Traders remain cautious as the hype around artificial‑intelligence stocks meets lingering geopolitical frictions. Meetings in Geneva on Iran and Ukraine have kept investors on the sidelines.
Tech sector under pressure
Technology shares marked a third consecutive week of decline, now down roughly 2% since the start of the year. A recent Bank of America poll shows a growing number of participants uneasy about possible over‑investment in AI, fearing a bubble in the making. Despite overall optimism on corporate earnings, capital is slowly drifting toward European and emerging‑market opportunities, at the expense of U.S. mega‑caps.
Key macro events ahead
Wednesday will bring the Federal Reserve’s Minutes, shedding light on the policymakers’ view of future rate paths. On Friday, U.S. Q4 GDP and a fresh inflation gauge will be released, offering another checkpoint on the health of the American economy.
February futures – technical snapshot
Resistance levels: 8,399.5 | 8,470 | 8,541 | 8,570
Support levels: 8,311 | 8,274.5 | 8,247 | 8,216 | 8,182 | 8,116 | 8,045.5 | 8,014.5 | 7,963 | 7,904
Intraday bias stays bullish as long as the market remains above the 8,276 point threshold.
What the charts are saying
The 14‑hour chart shows the index hovering near its 20‑period moving average, a short‑term trend line that can act as either a support foothold or a warning sign of slowing momentum. The overall direction is still upward, but a slip back to the lower range boundary at 8,259 points would erode that optimism.
On the technical side, the MACD histogram hints at a gentle reversal, suggesting waning acceleration. The RSI hovers in a neutral zone, indicating no clear over‑bought or over‑sold condition. Trading volumes are below average, reinforcing the view that market conviction is modest.
For a stronger bullish confirmation, the index needs to break cleanly above the 8,399‑point ceiling. Conversely, the appearance of a Wolfe‑wave pattern could pull the price toward a theoretical target around 8,247 points. A decisive break below that level might open a path toward 8,200, although the longer‑term trend remains positive.
Portfolio take‑aways
We continue to manage the Dynamic portfolio with an active stance, while applying a more measured approach to the Investor portfolio. In today’s environment, we stay alert to key market levels and are prepared to act when clear signals emerge. Our strategy favours a gradual, selective buildup of positions, grounded in rigorous technical analysis and solid fundamentals, to preserve upside while keeping risk in check.