Dax

A very strong week for the Dax.Markets rebounded on the announcement of a massive loan guarantee package in Europe and I think people also felt that German exporters would be super competitive with the euro having sunk so far.However fears about Europe and the weakness of the euro resurfaced on Friday and the market sold off so that the body of the candle was engulfed by the previous week.In other markets a clearer bearish harami was seen,but nevertheless the Dax still looks to me to have posted a significant high and downside risk looks considerable,although other charts in Europe look worse.