Dax indicators 11.4.2012

Current rebound could go as high as 6850-6860 without breaking the downtrend in RSI.

But most of the stocks are already below their 50 day averages.

MSI is pointing down and still staying at quite high level.

Overbought and sold conditions have easened from their extremes and almost converged. Before the relation is inversed there is potential that index would stay low or decline more.

But seems like investors want to take a little bit more risk currently, so at least we saw short term market bottom.

The selling volume hasn't been special

Volume index hasn't made any new lows.

TRIN was temporarily positive, so the investors were buying advancing stocks (obviously when almost all the stocks were rising...).

Dax weekly sentiment 44

Dax has found some resistance

From technical perspective it seems that after completing the upside targets, Dax has found resistance around level 6400. In a future Dax could be consolidating/ranging between 6000-6400.

Overbought/sold indicator has reached extreme level after selling has dropped dramatically. It doesn't need any extra efforts to forecast this to reverse in a future.

Dax cycles indicates that we don't have much room for the upside, so we will see a consolidation or a pullback.

20 day high vs. low ratio is also in a extreme overbought condition. Usually this high level has marked at least a short term top.

90% of Dax stocks are 1 standard deviation above their 50 day and 20 day moving averages. Again we are in a very overbought condition that won't last long.

Dax volume index led the price index up and now it has confirmed the current level. No divergence at the moment.

all Dax stocks below MA(50)

100% of Dax30 stocks are currently trading below SMA(50). Previously this happened during Lehmann collapse and January 2009 capitulation. Interesting and exceptional.