Wednesday, February 1, 2012

Dax sentiment 1.2.2012

Trending higher

McClellan Summation Index indicates higher levels, but not much.

 Dax cycles indicator is already at the level 69%, but still pointing up. Highest level we have seen during the last 4 years is 74%.

Dax is still in an uptrend. Only breakdown below 6100 would be bearish in long and mid term. Although, in a longer term perspective 6340-6630 has been importat resistance level and a turning point many times. Thus, we can expect Dax at least to climb above 6600.