CAC 40 Futures Hold Breadth Ahead of Fed Guidance and Apple Earnings
The French CAC 40 index ended the week on a modest rise, gaining 0.68% to finish at 8,126.53 points on a turnover of €4.209 bn. The upward momentum reflects growing confidence that the United States Federal Reserve will soon appoint a new chair, clearing the fog around monetary policy, while a looming U.S. budget deal reduces the threat of a government shutdown.
Adding to the optimism, Apple reported a spectacular quarterly performance, beating estimates with a 16% revenue jump to $143.8 bn and guidance that points to 13‑16% annual growth. The tech giant’s earnings helped lift the broader market, even though higher component costs kept its share price from rising sharply after the close.
Key Levels for February Futures
Resistance zones (from lowest to highest): 8,188.5 pts, 8,216 pts, 8,246 pts, 8,310.5 pts, 8,469.5 pts, 8,672 pts, 8,896 pts, 9,188 pts, 8,374 pts.
Support zones (from highest to lowest): 8,150 pts, 8,116 pts, 8,089.5 pts, 8,046 pts, 8,034.5 pts, 7,995 pts, 7,917 pts, 7,867.5 pts, 7,817.5 pts, 7,770 pts, 7,606.5 pts, 7,548 pts, 7,456.5 pts, 7,303.5 pts, 7,134.5 pts, 6,910 pts.
Technical Outlook
On the intraday chart the February future is trading inside a tight horizontal range between 8,034.5 pts and 8,188.5 pts. The midpoint, roughly 8,116 pts, acts as a pivotal level. As long as the price respects this median, the bias remains mildly bullish with the next target set at the upper edge of the range.
A decisive break above 8,246 pts—validated by at least three consecutive closing candles—would confirm a rebound from the lower part of the long‑term up‑trend channel and could reignite a move toward the 8,344 pts technical ceiling.
Conversely, a fall toward the lower boundary (around 8,034.5 pts) would signal weakening momentum. If the price breaches this floor, the market may revisit the next major support at 7,995 pts, and a deeper decline could push toward the 7,606.5 pts‑7,548 pts corridor or even the triple‑top neckline at 7,134.5 pts, which would spell a substantial correction.
Portfolio Implication
We continue to allocate to our Dynamic and Investor portfolios through a selective stock‑picking approach, guided by clear chart patterns. A sustained breach of the pivot zones to the upside would reinforce short‑term bullish exposure, while a breach to the downside would prompt a cautious reduction of risk.
