DAX: US trembles over Europe - "Gap closing" today?
USA trembles because of Europe
"Gap closing" today?
Is the gap closing even faster than expected ...? At least, the hitherto recommended hedge marks have prevented worse. The January rally is now followed by a clear February consolidation. The DAX now seems to be trending downwards. Wednesday's Bearish-Harami formation already witnessed a technical weakness in the DAX 30. The market-technical indicators behave as follows: The trend-following indicators are still in their neutral position. The short-term slow stochastics has reduced their overbought situation a bit by yesterday's course of the day. Growing fears of a global economic downturn on the US Wall Street had also created downward pressure on corporate balance sheets. The fears were justified by the headlines from Europe. US traders are now worried that growth in the EU will slow significantly. Now the focus of the German leading index is on the "Gap" that has been discussed for a long time at 10,929 points. This could now be started faster than initially suspected and even closed. This would entail a downward spiral. The next Supports at 10,780 and even 10,387 could then move into the field of vision. At least the psychologically important 11,000 mark will fall today. The Lower Bollinger Band at 10,811 could still act as a buffer. One thing has come true at least once again: Expect the Unexpected. And: risk management by means of stop-loss never hurts ...
Downtrend (since June 2018) continues
Gap closing at 10,929 probably faster than expected (!)
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