After bearish Kumo break, DAX quickly reached 9100-9200 support zone. Some indicators have become oversold here, we can expect some pullback to 9450 - 9550 levels.
Daily: Bearish Ichimoku setup with Price and all indicators below Kumo. DMI bearish with climbing ADX, which means this mkt will likely stay medium term bearish. However Slow Stoch reached oversold level, and if today we'll have a hammer or doji daily close, then we'll likely see a pulbback to Kijun Sen later this week.
4 Hrs: Price got very far away from Kumo and Kijun Sen. Also ADX is above 50! Slow Stoch turning up from oversold. Even though the big picture is bearish, bears need some rest here I think. Supports are ard: 9450 / 9550.
1 Hr: bearish too, but looks like some kind of bottom building ard 9150-9200. DI lines converging, ADX dropping. Key levels: 9310 / 9430 / 9550.
Comments
Kumowizard
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I got stopped at 9080 from yesterday long, but since it really looks oversold, I bought back again at 9050. Today closing will be very important. If it prints a hammer, maybe with doji or small green body, then with Slow Stoch turning up from oversold level maybe tomorrow it will start the corrective move. If not, that's gonna be a huge problem below 9000. For me would be only some more stop, but for those who are still long equities it would be a disaster.
Kumowizard
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I think the local bottom may be in. I bought 1 trade Unit long today. Both daily and 4 Hrs px action suggests the correction is likely coming. Daily Slow Stoch turning up. And Super Mario is turning up as well within few days :-)... talking head as we know... can't be bad for equities :-) Corrective Tgt +/-9400, SL below 9080.