DAX30 and CAC30

The DAX  has formed a path way of five wave up since the early march 2013 and an ideal target for wave 5 is 3584 or 3734 a range filled with common Elliott wave relationship.

with German shares reaching there upper limit this combination of fundamentals and technical analysis can prove to be a powerful argument that the trend could be nearing its end or at minimum , expecting  a decline large than the two previous pull backs  in June and September 2013

The German DAX 30 index DX:DAX +0.83%   rose 0.8% to 9,506.20 after data showed seasonally adjusted jobless claims in the country falling 15,000 to 2.97 million in December, which was better than expected. German retail sales also came in better than expected, with a November preliminary rise of 1.5%. “If Germany can show an improving labor market, it gives hope to the region overall, although all bar Germany have substantial reform to undertake if they are to match German efficiency,” said Stephen Pope, managing partner at Spotlight Ideas, in emailed comments.
European stocks also rose after data showed euro-zone inflation falling in December further below the European Central Bank’s target. Tom Rogers, senior economic adviser to the EY Euro-zone Forecast, said the central bank will “need to remain alert to the risk of deflation, and following Thursday’s governing council meeting, be prepared to respond to increased speculation over which policy tools it might use to try and address falling prices.”
With Investor looking forward to today minutes by the FED and Friday's US Jobs report for December for their possible indication for a reduction in the FED QE 

CAC:

CAC 40

The French CAC 40 index FR:PX1 +0.83%  rose 0.8% to 4,262.68, with banks such as Credit Agricole SA FR:ACA +6.08%   soaring 6.1%, BNP Paribas SA FR:BNP +2.87%   up nearly 3% and Societe Generale SA FR:GLE +4.03%   gaining 4%. Shares of Total SA FR:FP +1.08%    TOT +0.13%   rose 1.1% as the oil sector gained amid strong energy prices.