• 312 days Will The ECB Continue To Hike Rates?
  • 312 days Forbes: Aramco Remains Largest Company In The Middle East
  • 314 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 714 days Could Crypto Overtake Traditional Investment?
  • 719 days Americans Still Quitting Jobs At Record Pace
  • 721 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 724 days Is The Dollar Too Strong?
  • 724 days Big Tech Disappoints Investors on Earnings Calls
  • 725 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 727 days China Is Quietly Trying To Distance Itself From Russia
  • 727 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 731 days Crypto Investors Won Big In 2021
  • 731 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 732 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 734 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 735 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 738 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 739 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 739 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 741 days Are NFTs About To Take Over Gaming?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

  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