martinex
Short

TOPing Head and Shoulders reversal pattern ... after Tripple Top

INDEX:DAX   DAX Stock Index
232 5 3
So this is it , Mario has did his job ( finally ) ... ABS buying program is now the way out for market participants ... otherwise there would be noone to sell it to.

Good Luck Mario ... Good Luck !
Another week has passed and the selling force has not been stopped - not mentioning reversed. The neck line has been broken as the trigger of huge Head and Shoulders . As we can see DAX is weaker than USA markets which has not broke previous lows which represents the DAX neck line - more selling will come now in this case as I look forward to see new lows in America. In addition the 2014 performance is way negative already since two weeks .
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martinex martinex
Last week - as I was expecting - began with more downside pressure on the markets , after the week end came we can assume that the some kind of wave 3 has found it's bottom or maybe it was just a part of wave 3 ... the pullback we saw/see is not the end of the selling imo - just some breather and more will come. Return to the neck line of the H&S formation. Just a quick reminder of 2014 performance :
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First round of TLTRO is behind us ... watch this level now :
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martinex martinex
few more days ... end of Quarter and here we are :

in addition something Long view :
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My target for DAX is at 8700 level. Next month ECB will begin a a huge buy assets program and for me means that we going to new all time highs until the end of 2014. At 8700 i will get a big fat long position again, now is time to TRY kill longs.
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