Sunday, August 23, 2015

DAX Germany Daily Chart Approaching Bear Market

The DAX peaked on 4/10/15 at 12391 so the 10125 print creates a -18.4% move off the top. Only -1.6% more will create -20% reversal placing the DAX in a bear market. The DAX is clearly in correction mode down more than -10%.

The year began at 9887 so the DAX remains up 238 points on the year; +2.4%. The ECB's obscene Keynesian money printing has not helped the cause this year except for the initial rally into the April top where the wealthy locked in profits and raped the system for all it is worth. A -20% bear market occurs at 9913 interestingly in the same area as the starting year number at 9887. Thus, the psychological 9900 level takes on epic importance. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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