dax

After y/day's sharp sell-off, DAX-June13 is consolidating, with very sluggish upside traction if anything. Odds are it is a small correction before another strong wave of selling. Market may hold into Wednesday, or fall outright.

Stay tuned.

After y/day's sharp sell-off, DAX-June13 is consolidating, with very sluggish upside traction if anything. Odds are it is a small correction before another strong wave of selling. Market may hold into Wednesday, or fall outright.

Stay tuned.


 

The big-picture bearishness prevailed today: After «sky is clean» optimistic open up-gap, DAX-June13 has reversed down and now is selling hard as I write.

I remain of the same opinion that  Market has made major top on 15th March, and now is open for huge downside right away.
 

My prop indicators have done a pretty good job on Friday and today: flashed «exit-short» on Friday closing, and turned «sell» after the gap today. Very good kick-off start of the week:)
 

P.S. EURUSD made even better than DAX-future signal-wise:


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красота, ничего лишнего
четкий шорт в касание базовой №3 (8070)
 
и красивый выход перед 38.2 в начало разрыва ( 7882.88)
 

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DAX-June13 traded in a choppy manner today, with an upward bias. Big picture remains bearish, yet the very short term perspective is indecisive. My prop indicators diverged — large TFs in «sell» mode, smaller TFs have exited short, and the smallest TFs have turned long. 

Trading-wise, it was a very good and profitable week, as I have got a good run of tradable set-ups on small TFs in DAX and especially in EURUSD:
 



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Dax_June13 has pushed downwards, as expected. My proprietary indicators remain firmly in «sell» mode as I write this. 

Pattern-wise, i see two decent possibilities: 1) either market has finished upward correction @8047,5 high on Wednesday or 2) market will rally again above 8047,5 in order to complete more complex correction. I remain of the opinion that market made its top on 15 March @ 8089 and now is in downtrend with targets far below current levels. Stay tuned.

DAX-June 13 stubbornly continued upward. 8089 must hold for the bearish case. 

Odds are DAX-June13 has reversed to the downside and if so — immediate selling should follow. I remain bearish, lowering my risk point to 8034.                                                         The clearest perspective for European indicies is seen on Eurostoxx50 chart:
 

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There is a residual probability that DAX-June13 is making a sharp upward correction which is about to end immediatly. If not — it is going to make recovery high, uh oh:) There are no 'sell' signals as of now.

Last Friday I said that odds are for a major turn down. Today DAX-June-13 had a huge gap down at open, which is probably an indication for further weakness. I remain bearish vs last Friday's high of 8089.