• 11 hours Saudis Eye Billions As Stocks Get Emerging Market Boost
  • 14 hours Airbnb In Acquisition Mode Ahead Of IPO
  • 17 hours Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 19 hours Champagne Sales Slow As European Economic Worries Grow Louder
  • 1 day Putin Signs “Digital Iron Curtain” Into Law
  • 2 days Russian Metals Magnate Sues U.S. Over Sanctions
  • 2 days Tesla Looks To Jump Into Indian Market
  • 2 days Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 2 days Homeowners Experiment With Risky New Investment Trend
  • 3 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 3 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 3 days Ford CEO Gets Raise After Massive Layoff Round
  • 3 days Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 4 days Where To Look As Gold Miners Inch Higher
  • 4 days Google Faces Billions In Fines From European Regulators
  • 5 days The Energy Industry Has A Millennial Problem
  • 5 days Russian Banks Scramble For Sanction Loopholes
  • 6 days Gold ETFs Take A Hit After Four-Month Run
  • 6 days European Union Takes Aim At Ten New Tax Havens
  • 7 days Goldman Defends Trillion-Dollar Corporate Buyback Spree
Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

  1. Home
  2. Markets
  3. Other

DAX: Short Setup

Weekly time frame:

  • If the EW count that I am following is correct the corrective decline from the April 2015 top is not over yet, as one more down leg is needed to complete a Double Zig Zag
  • From the February low, the assumed wave (B) has recovered to the 0.5 retracement of the previous down leg.
  • We have to wait for the weekly print in order to see if price fails to reclaim the 20 wma = 10107. If this is the case and next week the support at 9899 does not hold then odds should favor at least a pullback at the 10 wma = 9630
  • A weekly close below the 10 wma would increase the odds that the rebound from the February low is over

DAX Weekly Chart
Larger Image

Daily time frame:

  • Price has carved out a Rising Wedge
  • Today's Spinning Top can have established at least a s/t top
  • A larger pullback is probable provided the 10 dma = 9905 is breached
  • The break down of the rising wedge would open the door to a decline towards the target box that has a range 9572-9405

DAX Daily Chart
Larger Image

 

Back to homepage

Leave a comment

Leave a comment