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Dax and imminent rebound

Obviously we will see some kind of a rebound tomorrow even the intermediate term trend is about to turn down.

50 day cycle just gave a sell signal.

Dax McClellan Summation Index already made a negative divergence with the underlying index. Currently it is heading down.

It is highly probable that Dax will fall at least below 7200, and then appropriate short term target could be found from a weekly chart. So far Fibonacci level 7037 seems to be enough, maybe even below 7000.

Dax week 39

Dax has had few changes when Lanxess Ag and Continental replaced Man and Metro.

On a weekly chart Dax is still fighting with it's resistance (green descending line). This will soon began to be very tiring and thus increase the odds for the downside.

Dax higher high ahead

Volume index of Dax already reached higher high, which would indicate Dax to close at least above 7500 in a very near future.

Dax 21.9.2012

Today Dax will gap up above 7400, and hence trying to break out into higher levels.

Dax and QE3

Check out the updated gap statistics if we gap up today heavily.

Dax week 37

Will we see all time high soon? The chart is beginning to give an indication of higher high level if the rest of the week continues to advance. Currently we are trying to break above 7400, which would lead to 8000.

McClellan Summation Index indicates that the trend is up.

50 day cycle indicates that the trend is up.

I would like to see 100% of Dax stocks abobe their 50 day moving average before intermediate term topping process.

Only concern is that the current shorter term risk cycle isn't behaving normally, although the current situation isn't normal either. Anyway, market has been pricing QE3 for a while and when we got it, Dax could pullback soon -2-5 %.