Last week I was expecting Dax futures to decline at least to touch it's rising trend line or SMA(20). None if this hasn't happened yet. In despite of this, Dax hasn't even able to make a new highs for 5 days.
Volume still hasn't been interested of this rally. Even the latest performance points down.
Accumulation took a spike downwards, so the investors were selling heavily.
Dax McClellan indicator is already pointing it's way down.
Dax cycle indicator has also peaked. In the below graph, I have marked all the previous cases when the indicator has peaked. You can compare it with index.
It is clear that the uptrend is not very strong and it is losing it's momentum. My trend following system keeps 6810 as a critical level to stay in an uptrend. Even the uptrend holds, the upside profit should be limited at this point. Investors have been buying and hoping and soon they could be selling on the news.
