German DAX - Quick Note

The German DAX has been in an uptrend since late October 2023 and is currently trending above the 10 EMA. It did hit the R2 Fibonacci Pivot Point and found sellers on pretty high volume (notice the volume spike in the chart below). Price however did not give up much as it appears the sellers were met with buyers.

The German DAX is following a 54-day cycle bracket, with a 27-day half cycle. The DAX is in the last 25% of the cycle bracket, so some consolidation or pullback is expected. A new cycle begins on 4/5. The RSI indicator appears overbought, however with volatility decreasing a mild pullback or consolidation is expected, unless a new event changes the complexion.

For Paid Subscribers we’ll look at the Cycle Composite, Energy Cycle, and Seasonal Cycle for the DAX.

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