The major ranges on this long term chart average around 1800.The current range is 1781,compared to 1778,the last major range in the previous bull market (2007) . Dec 27 was a 5 year cycle from the high,so the stars are aligned for a decent reversal,possible major top though it would be safer to wait for a decent weekly reversal candle for confirmation. The Dax is showing strength relative to US markets and seems more likely to be lagging than leading.
Sunday, 30 December 2012
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"The Dax is showing strength relative to US markets and seems more likely to be lagging than leading."
ReplyDeleteI agree with that assessment.