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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Tuesday, February 12, 2019

Calm before the storm? Or blue skies ahead?

After a strong rally from December lows markets are in a "wait and see mode " - STILL !
Waiting for : trade deal with China (probably priced in - bar the pop on the new)
Waiting for Trump to reach deal with Dems on Border Security (i.e. THE WALL)

Quick look at DAX :

Daily chart from the 7th
Looks like a breakdown from a bear flag
Relative weakness vs other major markets
Look left  - 11550 level if breached might signal change in short term trend - until then medium term downtrend still in force.

DAX 2 hour from today

This shows the break of the recent uptrend
And a rally from oversold levels
could be a test of the broken trend line and then resumption of downtrend  OR
that fall was a fake out and now rallying to test 11550 level

Finally look at weekly DAX
testing the 200 week MA
rally has relieved oversold

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