FX:GER30 DAX index of German listed shares
The DAX has had a huge rally of 36.51% from the October low, 22.55% in 2015 and 11.46% from the ECB's announcment of euro style . This is a huge rally that could enter some resistance with the start of the ECB's starting in March. next week the ECB meets on the 5th and could create a news reversal. IMO this current rally since the ECB announced could be buy the rumor, when the ECB finally starts , the rally has already happened, all the buying is used up and a news reversal is created. A news spike up to 11435-11465 where price is clearly rejected would be a sign that the DAX could be in for a pullback. However, would wait for a daily close after the ECB meeting on the 5th before taking any action in a short position, since the DAX is only allowed to go up at the moment.
Here is an alternate count for the DAX. EW is all speculation and is more of a possible road map. If this count is correct???? Then Friday's highs could be a short term high, where the DAX pullsback (10826 - 10588) into a W4 then finish W5 up into the spring. If the DAX continues with its steroids binge 11194 just might be it????? 12000 at the moment seems to be a target.