Update of DAX analysis: we saw a frustrating session today where the morning session impulse was knocked off by the bears. We have been observing lower highs and lower lows and this is no good. The 11160 level must hold to continue believing in a scenario
hi, sorry for my english, but, you are consider the context scenario, meanning, the EURO BUND market, normally have inverse correlation with stock market, how ever in this last days go in the same correlation, probably the inverstors is going to cash waitting better markets oportunities, but they don't go to the stock market and, in the other hand, the macroeconomic bad data from China, Europe and USA probably are extend a Bearish scenario to levels 50% fibonacci of all bullish rally, can you considere this?
Hi. You are making some interesting comments. If you look at price graphs from a pure technical perspective you basically do not consider the context that much but rather read the highs and lows and price swings to place entry and exit points. Nevertheless, it is undoubtful that the index evolution reflects the economic scenario. I agree on the inverse correlation vs EUR BUND and especially vs the EURUSD. The last German economic data were weak, the Greece issue is not going to help. The index can fall further, that is clear. In that case I will just close out my position on a close below 11160.