This week DAX is bouncing between 9800 zone and 9600 zone. 9600 is a strong resistance level this year. So we have to break this 9600 zone and shortterm trendline before DAX get further down. If DAX breakout at the upside we can go up to level 9900. I am looking forward or DAX make a SHS pattern. So short under 9600 and long when breakout at 9800
Please give your thoughts on which way you feel it may go I feel it it could go to 0.618(9816) and then drop but also it could go to 1.618(9573) what you think?
DAX take the lower line of the long-term channel, about 9500 and then restart for a long position. look at sp500 to confirm this.
After DAX lose support in 9900 area , DAX going futher down yesterday to 9800. Today we see DAX at next support area 9711 (Top in in Feb, Mar and April) . 9700 is important zone. If broke this zone there is more space for futher downtrend to 9400 ( break trendline). Next important area are 9600 and 9500.
Today Dax is down to it's first support zone 9880. Last 4 weeks Dax is consolidating in a 155 points zone. For the 5th time we get in the 9880 zone. From here there are 2 options. Support maintain and DAX go futher upside again (10050 top). Other option is a break from the short trendline and 9880 supportline. This brings DAX to next support level 9800. There is...
Well, everything is said in the Chart and I try to draw the forthcoming move of the Index. We are still in a correction phase until 9450 or around, which would be approxm a 5% correction.
DAX is still in a correction phase and not in a reversal phase. Indicators show clearly that we are in an overbought level. However, there isn't yet any sign a trend reversal. Therefore, the index may go smoothly down towards 9475. At that level, depending how fast it reaches this level, we may be faced with a double bottom. If this level is broken, the next...
DAX is continuing the correction phase. There may be a little upside move until 9875-9900 because of the situation of the market, although we are not yet in an oversold situation, there may be a little move up before the coreection process continue toward 9775 at first, and later until 9380.This would be a 5% correction From 100XX, which is normal in that period....
Well, the normal adage of a normal market trade says " sell in May come back in September." For those who are short since May it may have been a catastrophe. Having said that, The market is facing a normal and regular correction. This correction may last until 9400 or 9200. Bellow that level, it may very much slip bellow 8950. Furthermore, the money is still...
Here we are. As forseen for several days, the correction on indexes has been ignited. SPX has started the initiative following by DOWI DAX NASDAQ CAC SMI and tomorrow it will continue with IBEX35. On the other hand, VIX jump up one to a sudden. The midway to the correction may be around 1840-1820. Here we are.... At last....In the mean time those who are...
For those who do follow my DAX chart and analysis, as forseen, the index has started its correction. We have a confirmed Raisong Wedge pattern and a beginning of a correction on DAX. This correction may also be on a medium term a reversal, but we are not there yet. As far as the correction is concern, one can easily have 9763 as an initial target, then a little...
The raising wedge pattern is very clear. As I have mentioned in my previous chart, the market will try to hit above 10000, not that it is justify but just for the fun of it. At the present time, nothing justify such a huge expansion of the index toward 10000 and even further but market is being dominated by the buyers and the sellers are waiting for the good...
Well, VIx is in a forced uptrend, because of the oversold level on the one hand, and the overconfidence of the market on the other. It means that all indexes are higher then they should be. Stoch switch from the oversold level to a regular long level. This is the initial sign of a reversal trend in Indexes as well as on VIX. At least a technical correction for...
This study has been drawn on a weekly chart. My forcast regarding DAX since QE3 i.e September 2012 was 9706 and I have mentioned it many times in my previous studies. I still consider that as of now, and above 9706, we are at an illusive and exessive level, this is also confirmed by the STOCH and you can even ad RSI or W%R. Nevertheless, I am not the...
CIX is always a nice counter mesure tool to confirm the direction of the indexes. The market was too overconfident and VIX was at its lowest level. But there are initial signs on a technical level that show clearly the reversal trend i.e VIX may move up, and indexes may move down. STOCH and MACD give the hint. We need to see a confirmation if it is just a...
On a purely technical aspect, DAX is facing a heavy resistance over 9950. My personal target of FED's QE3 based on QE1+QE2+ DAX's index earning being reinvest in the market was and still is 9706. Therefore I do consider every level above 9706 excessive and overbought as it is now. STOCH Shows clearly the signal of correction. Since Mid March, even later early...
Hope we get a re-test of highs in the near term. I am ready to enter short at the highlighted area. Let us see... Petr
This is a big picture scheme about the State of Play with regard DAX. When trading on a daily basis, we may forget the big picture. As a reminder, if one look at the last 5 years, DAX did classical move, even when you do include the crises period. The very mechanical move of DAX suggest that The level of Pre Crises was a resistance. After the crises, and with...