DAX: No jubilation but no tristesse


The January rally is now followed by a February consolidation. Even though the month of February has so far dropped by around 1 percent, the DAX seems to be trending sideways for now. Yesterday's "Bearish-Harami" formation also bears witness to a sluggish DAX 30 daily trend. However, the expected fundamentals could well support this trend. Both the German producer prices at 08:00 clock and the US labor market data from 14:30 clock are friendly forecast. All this does not promise massive leaps of joy, but also no profound tristesse. The Upper Bollinger band has opened a bit up and now runs at 11,419 points. The market-technical indicators behave as follows: The trend-following indicators remain in their neutral position. The short-term slow stochastics on the other hand testifies to a currently overbought situation. By implication, this means that even the fundamentally positive fundamentals from Germany and the US, which are expected today, should probably give little impetus to the upside. The German benchmark index takes hold in its sideways consolidation. Over-bought slow stochastics and the "Bearish-Harami" are likely to be stronger than the above data at 08:00 and 14:30, respectively. In addition, the stock exchanges in China, Hong Kong and South Korea will be closed for the rest of the week due to the Lunar New Year holidays. The negative guidance from the US also slows down. The current bandwidth is therefore at low Vola: 11,419 to 11,217.



Downtrend (since June 2018) continues

Gap closing at 10,929 still possible

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