Yesterday's call for a rebound canceled. It is not wise to try catch a falling knife at this point. There are evidences that we will see lower lows and lower close ahead.
Dax volume indicator trying to lead the prices down.
It is always bearish when Accumulation/Distribution falls into negative territory...
...combined with investor's reduced willingness to take risk it almost guaranteed that Dax will have lower close during next 5 days.
Dax Cycle is trying to point down.
McClellan Summation Index is already bearish.
The most important level tomorrow is 6974 and 7050. Below those levels we remain bearish and keep 6600 as our 5 day target.
Today Dax could climb above 7000 (target 7016), but eventually fall below 6900 (target 6895).
