DAX PERFORMANCE-INDEX (.GDAXI) will look closely to the price action of the S&P 500 and FTSE 100

DAX PERFORMANCE-INDEX (.GDAXI) will look closely to the price action of the S&P 500 and FTSE 100

DAX PERFORMANCE-INDEX (.GDAXI) will look closely to the price action of the S&P 500 and FTSE 100

The German DAX 30 has a relatively quiet week ahead. Last week, an ECB meeting that missed market expectations saw the Index plummet beneath support as the central bank signaled easing would occur not at present, but down the line. Given the corresponding reaction in the S&P 500 and other equity markets after the ECB meeting – and their positive correlation – it would be safe to assume the DAX will look closely to the price action of the S&P 500 and FTSE 100 during the week.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 12,716.21.

The projected lower bound is: 12,127.97.

The projected closing price is: 12,422.09.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 60.5655. This is not an overbought or oversold reading. The last signal was a buy 8 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 53.44. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 58 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 29. This is not a topping or bottoming area. The last signal was a buy 4 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 12 period(s) ago.

Rex Takasugi – TD Profile

XETRA DAX PF closed up 57.801 at 12,419.900. Volume was 19% below average (neutral) and Bollinger Bands were 28% narrower than normal.

Open     High      Low     Close     Volume___
12,363.86012,428.05012,356.15012,419.900 73,308,040
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 12,373.23 12,236.89 11,629.15
Volatility: 15 15 18
Volume: 82,332,224 89,367,520 92,887,392

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

XETRA DAX PF is currently 6.8% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of .GDAXI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .GDAXI and have had this outlook for the last 0 periods.

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