Monday, April 23, 2012

Dax daily

Well if the count is correct looks like we are close to finishing, but I would expect some sort of panic move down and recovery to signal the downside has ended.

The bullish scenario:
The 200 dma is at 6190
Or a sharp 100 point drop and recovery..the UP UP and AWAY

The bearish scenario..
The DAX has already topped @7180 in March and we are now in a wave 1 and a wave 2 (abc correction) will occur when this down move is finished.

EITHER way it looks like the next decent move will be up...

The only CAVEAT is that the DOW looks like it should have quite a bit more downside left..

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