Dax indicators 2.4.2012

Yesterday was a very bullish day. We saw only 4 stocks declining from their opening.

We got 6 fresh 52 week highs with ADS, BEI, DPW, HEN3, LIN, MAN, MRKK. 

16 stocks are less than -10% from their 52 week highs and averagely gain from 52 week low is 42,1 %.

Looking at 3 month performance we notice that thr are already few stocks trading on the negative side.

Dax cycles is still anticipating more down ahead...

...and so does McClellan Summation Index.

Dax Volume Index doesn't have any meaningful divergence with prices.

Technically Dax can climb to touch the declining trend line at 6129. Even if it does that, there is still negative divergence with MACD and RSI. Breaking above the trend line should also break the divergences.

Dax indicators and performance 19.3.2012

On a daily basis, the banking sector over-performed clearly

 

18 stocks are less than -10% from their 52 week highs.

Volume index still has small negative divergence with prices, even the latest performance has been very strong.

The short term trend has been up and 20 day highs vs. lows confirms this. Still there is an indication that the investors are becoming more risk averse. 

Dax cycles has been pointing up, even the latest cycle down wasn't completed.