alx13

Dax is chop suey

FX:GER30   DAX Index
It looks like this wave wants to chop everyone... It broke 3 times today below the blue TL, but reversed every time. The red TL is no longer important, it was finally overtaken, but the purple TL I highlighted this morning contained all rallies so far, except for brief spikes.

Once that goes bulls might get some hope to get to the upper blue TL around 10380ish. I would be long on a sustained break.

GL out there!

Btw             , an interesting read from mcm:
http://mcm-ct.com/blog/restrained-market-emotions-corroborate-august-drop-as-downside-breakout/

Also, just to say that the dax             tools are alive and well. I have been using them and the signals have been quite useful. If you are interested in the analysis please write to me any time at alex@mcm-ct.com
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