alx13
Long

DAX - bounce approaching?

FX:GER30   DAX index of German listed shares
Yesterday was a vicious day for the DAX             . After peaking in the morning just above the 10.000 mark, it dropped almost 500 points before finding a bottom. Which today was taken out, before an insane amount of chop ensued.

Is the 4th wave in? By all appearances it might very well be. However DAX             has approached on today's bottom an important TL - the one connecting the 2011 low and the Oct             2014 low. Now that TL held the last decline at 9300.. It also seems to have held this one. So I believe a short term bounce could be in the cards. Either immediately, like we did on the previous recent bottom, or after briefly spiking the TL to complete wave ((5)).

What is amazing about yesterday is the quality of the signals generated by the mcm developed tools. To get more clarity on that, please read the following article:

http://mcm-ct.com/blog/dax-tick-tools-show-the-way-in-a-near-500-points-drop/

The tools nailed the 10.000 top and didn't generate a potential reversal signal until 9.626. That signal was worth almost 400 points! I truly recommend these signals to anyone looking to make money in the upcoming (or already here?) bear market. They were specifically designed to make trading easier during impulsive markets like bear ones. For any questions about the analysis or the tools, feel free to contact me at alex@mcm-ct.com

As always good luck out there!
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