CAC 40: Revisiting Rue Quincampoix
by Murray Gunn
Updated: November 13, 2020
It's hard to believe, but the French stock market index CAC 40 hit its all-time high 20 years ago, in 2000.
The French market has gone sideways since then. But what may look like meaningless meandering to an outsider, to an Elliott waver looks like a clear pattern.
France is the place where the word "millionaire" was first created around 300 years ago on Rue Quincampoix in Paris. That's where money-printing inflation created illusion of wealth -- before the inevitable deflation took hold.
Today, the French stock market holds a clue suggesting if another brush with deflation is ahead.
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