Yes, the-DAX had a strong rally from mid-July to mid-August.
On 09-16-2016 the-DAX low was 10,262.19.
The rally since then has been weak and not nearly as robust at the previous up move.
1. Last valid sell Sell was Sept 16th at 10,262.19.
2. Your compass for direction, the , is directionless, JAWS CLOSED.
3. CHOP is in the shaded area. This predicts NO TREND.
4. Prices are trading into the .
5. Prices are mostly below the baseline.
1. Prices are ABOVE the red conversion line.
2. The-DMI (top indicator) is positive, but the strength is only half of the August rally.
3. The phase energy (top lower) is steadily rising, but BELOW ZERO. It has a downward bias (arrow).
4. No Buy during rally.
5. The FORWARD PROJECTION (top middle) was strong in August, but VERY WEAK today.
For an estimation of possible FORWARD TRENDING I use the Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”. Currently the forward projection is VERY NEGATIVE.
I HAVE THE RESULTS OF THESE CALCULATIONS FOR THE-DAX IN THE TOP MIDDLE INDICATOR. AS YOU CAN SEE, THE FORWARD PROJECTION IS LOWER.
A four hour chart looks slightly more positive, but there are the same negative divergences.
So, I feel the-DAX will be heading lower.
The next chart I publish will be for Belgium. I am doing this so you can compare a strong chart (Belgium) to a weaker one-DAX.
Good luck to you in all your trades. Don.