Dax indicators 2.5.2012

According to to my earlier posts, we are currently consolidating. The range remains unknown even 6750 seems to act as an important support/resistance.

20 day highs vs. lows seems a little bit sloppy at the moment. Could it turn down?

Also Dax cycles seems to be going down.

Dax strength indicator is currently in a consolidation area. I have marked the previous areas by red windows. So, don't expect higher close than 6800 during next be 1-3 weeks. Intraday highs don't matter.

Risk indicator came down as it was supposed to come.

Dax technical 27.4.2012

In a technical perspective, it looks like Dax is trying to touch 7000 or Fibonacci 6974 (78,6%). There is also intermediate declining trend line abobe 7000, thus judging bigger trend. Currently the longer term uptrend still holds confirmed with a touch to major rising trend line and major support at 6544. Additionally short term declining trend lines for Dax and RSI were broken upside. RSI and MACD are also showing some strength.

Dax indicators and trades 20.4.2012

Quite variation between 3 month returns from -10% to almost +30%.

20 day highs vs. lows ratio is still pointing down, but there is not much to go anymore. 

Intermediate cycle is showing normal cyclical behavior and could bottom soon. 

McClellan Summation Index has still room for the downside. 

...Although some indicators like modified RSI has been improving and showing signs for a short term market bottom. 

Risk aversion has also improved. 

Current positions include: LONG: DAX, CBK, DBK, HEI, DAI, BBZ, EVT, SNG (open new long positions on Monday for DPW, VOW3), SHORT: BEI, FME.

Risk appetite 19.4.2012

According to some indicators, risk appetite is growing and could lead index into new highs.

Dax modified RSI is showing a sign of a short term market bottom.

Dax indicators 16.4.2012

The support at 6544 managed to hold, so now we can try the opposite direction and above 6800. RSI is already making higher lows, which is a positive signal.

20 day high-low ratio is already at low level comparing to normal cyclical behavior.

Dax modified RSI is also showing sings of a bottoming process.

Also the risk appetite is growing. 

Overbought and sold already converged, so the best shorting opportunities have gone so far.

Dax volume indicator is in unison with Dax. 

Bear territory seems to end soon.

Dax indicators 10.4.2012

Even the short term market bottom could be near I still have 3 different algos pointing to have an open short position for Dax.

Dax cycles down.

Dax beta down. 

Dax overbought vs. oversold converging.

Dax 20 day performance down.

Dax RSI down.

Dax indicators 20.3.2012

Dax still has a negative divergence with RSI and MACD, which could make momentum investors cautious. Break below 6970 would confirm the divergence and lead Dax to 6600. If Dax manages to stay high, 7400 maintains as an intermediate target.

Volume index has been rising and almost climbed above July highs. We need to watch this carefully for a hint of level 7400 for Dax.

Overbought - oversold indicator resisted it's normal inertia which would have taken Dax to lower levels. Now we are back in uptrend.

 Dax 20 day highs vs. lows also indicates uptrend.

McClellan Summation Index indicates uptrend.

The only negative indication is investor beta, which is currently indicating risk aversion even it is still above positive level 50.

Overview: We haven't had any major negative news issue lately, so remain cautiously positive and bullish biased.

Dax long term update

Dax long term picture negative