Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


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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

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