Up it is
Nothing much to say. The market is rising as expected. The bullish signs have been clear for couple of weeks now.
Dax overbought and oversold signals show clearly how the selling has decreased dramatically and buying has started to increase. The below graph show how the inertia between these two is currently on it's way to bring these into equilibrium. So, we expect higher high ahead for the index. After all, the seasonality is on bulls side for the rest of the year.
The below graph reveals the development of individual stocks compared to the index. As you can see, less and less stocks are performing better than the index, which is desirable outcome. The market is still working like it is supposed to work!!! Currently 40% of the stocks has performed better than the index during last 20 days. Usually this ratio could come down to 30%, at least, before the market will start to establish a short term top.
