Friday, March 2, 2012

Dax technicals 1.3.2010

Dax has a important resistance at 6990. Now when S&P500 is facing resistance, Dax hasn't been able to make higher high since 21.2.2012. MACD and RSI diverge negatively from index.

More and more stocks are making lower lows and 20 day lows.

38% of the stocks are currently performing better than the index. However, decline of this ratio is actually bullish for the index, even it also indicates upcoming short term top.

Dax cycles indicator has been making lower lows for a while.

McClellan Summation Index has been making lower lows for a while.

15 companies are less than -10% from their 52 week highs while just 1 company is less than 10% from it's 52 week low.

Dax volume index has still negative divergence with prices. Should this be corrected soon or will it continue to diverge more?

Prices seem to stay high without any good reason or bad news to sell. In despite of that Greece 1 year bond yield is at the absurd level 951% and the country has been downgraded to selective default. Officials still argue no to default?