In the age of currency devaluation and manipulation it makes sense for the European stock market to go bullish.  A couple weeks ago we (NFTRH+) made a bullish projection on Yen-hedged Japanese stocks and now it is time to do the same with Europe. We do this one publicly and skip NFTRH+'s usual buy, sell, stop loss formalities.

First, the currency in question.  Lame Euro (FXE)?  , Euro weekly is on the verge of a breakdown from a nearly 2 year sideways consolidation pattern.

Euro hedged Europe (HEDJ) has drifted out of the downtrend channel and is bullish.  This is Draghi’s goal, after all.  Good job sir, your stock markets are reflecting your manipulative policy (circa Bernanke post-2011).

I have been waiting for the US market’s support test situation to resolve before going too heavy back into stocks, but I am hedged for the time being and think I may add HEDJ before too long.  One could read a target of 60 into this chart if the 52-53 area holds as support.