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Mood!

Thursday, September 26, 2013

DAX month of gaps and range

Since Sept the DAX has basically traded in a narrow range, with the big moves coming on overnight GAPs to the upside, coming at all time highs.

After the last gap to all time highs (high 8771) the market has traded back to gap support around 8600 and for 4 days traded in a very narrow range 8700 to 8600.  What next?

Waiting for a break of 8600 for a bigger move down

or a break above 8700 to see if the bull move is renewed and new ATH on the horizon.

proceed with caution if a BULL tighten stops
if a BEAR beware breaking to new highs, may go further and faster than one may think

Daily chart




DAX weekly


Wednesday, September 4, 2013

DAX bull move intact

DAX 

The BULL move since Sept 2011 is STILL intact and EVEN a fall to 7950 wouldn't change this much.
If it finds support at or above this level, a good chance of new ATH or at least a retest of the highs.

ALTernative : The market is in the process of correcting the advance from JUNE 2011 a 62% retrace would be around 7050

OR the market is correcting the advance from SEPTEMBER 2011 , a 62 % retrace would be 6400

Obviously the latter scenarios (IE bigger corrections) will not be straight line affairs, but would change market from BULL to med term bearish (or short term bearish to med term bearish)


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