German Dax Index took a pretty big loss the last week and formed a monthly sell signal. Fear is currently in the markets, indices fall and JPY as a save haven is sought after.
Uncertaintly leads to profit taking and cash parking.
Price made a weak attempt to break the last high and made a fake breakout
Daily & monthly sell Pinbar was...
A fresh round of poll updates from Germany with CDU/Green coalition in play:
=> CDU/CSU-EPP: 28%
=> GRÜNE-G/EFA: 23%
=> SPD-S&D: 12%
=> AfD-ID: 11% (-1)
=> LINKE-LEFT: 9%
=> FDP-RE: 9%
We are marking the highs as widely mentioned previously in the 2020 Dax Macro Map:
This is an update to my 3/23/18 daily DAX post, in which I noted the DAX - based upon Fibonacci and momentum analysis may have bottomed on 3/23/18 or could bottom on 3/26/18.
On 3/26/18 the DAX made a marginal new correction low which turned out to be the bottom for a subsequent rally to 13204.
The 13204 level is very close to a .786 retracement of the sharp...
The German Index bounced heavily after a little correction last weeks, toward the 13000 key level but managed to get back to the top and this level 13600 will be a crucial level to watch if we manage to close above it on a daily basis we will target new highs , Investors are betting on the fact that the Coronavirus spread will be limited and economy will bounce...
People often ask me why I like to trade the DAX (given that it is not the largest of stock market indices....I do also trade US markets mostly and occasionally HK/NKY).
The answer is because the DAX is often a technically gorgeous market to trade in terms of clear patterns (EW and classical like H+S etc) and provides clear entry and exit (stop and t/p) levels.
Once again, DAX could be setting itself for a new all-time high. But, of course, it needs to overcome its current one, near the 13640 level. For now, it looks like the index is on the right track.
We will only consider higher areas if we get a break above that level. If not, we will stay neutral.
Please see the chart for levels, targets and the...
With the US bank holiday Martin Luther King Day (for modified Trading hours, please check our trading schedule), volatility in financial markets should be expected to stay low into the start of the week.
In general, low volatility favours a drift higher, resulting in an elevated chance to see a push higher and an attack of the current DAX30 CFD all time highs...
I am sticking to my long held belief that the DAX made an important top 2 years ago based on a picturesque Elliott Wave count from 2009 post GFC lows.
Over the last 2 years we have had a down leg (2018) wave A or W.
Then an upleg (2019) wave B or X and now re-testing the ATH.
My view remains that we are about to have another major corrective leg lower during 2020...
With a light economic calendar - and no further geopolitical tensions, relevant to the markets, between the US and Iran over the weekend - and the upcoming sign off the Phase 1 trade deal between the US and China coming this Wednesday, volatility in the DAX30 CFD should stay subdued.
In fact, this market environment seems very favourable for a bullish push...
The DAX30 CFD had a prosperous start for the new year, but gave surrendered all its gains and more last Friday.
The main driver for this bearish action came from recent developments in the Middle East last Friday, when the Pentagon launched an airstrike that killed Iranian commander Soleimani, sparking fears that a war between the US and Iran could be about to...