37 replies to this topic

[andr99]

It's not a matter of how much, it's just a matter of direction. When America takes a deep correction, there's no way Europe and the dax can do something different. They will correct. How much it depends on a lot of things. It can be a milder correction than the American one, but for sure it will be a correction. Sometimes deeper sometimes milder, but the upside turning point, which is what I' m interested in, usually is not so different in time between the two continents. After all the founders of modern America were western Europeans, so why should the two continents go separated ? OK, this is a consideration that doesn' t matter much in globalized world......

[K Wave]

the most important stock market in Europe is the German one (Milan counts a lot less, until we feed rome and south our industries and our economy of the North are weighted too much) 

 

When American indexes go up, European ones can follow or not, they can do what they want, up or down or sideways. When American indexes drop, Europe always follow.  

 

the dax weekly

 

https://i.postimg.cc/HsxsnFVB/daxlongterm.png 

 

both the index and its macd are about to break their respective LT descending resistances

 

the weekly macd is going to do so after reaching its LT support and drawing a diveregence 

 

Is the dax LT bearish ? Nope 

 

So if the dax is LT bullish, under a strict TA point of view, can America drop while Europe rises ? 

 

I have never seen that before in the LT

Monthly Dax looks very bearish to me, momo completely gone and now below Zero...as does daily...as does weekly, which is well under 200 week MA now

 

At what level do you concede it looks bearish?

 

12K

 

11K

 

10K

[K Wave]

DAX needs to clear 13K before it looks like anything remotely bullish, and that would likely only for a short while, as daily chart is process of full rollover into LT bear.

 

And should it go hard down from here after the little A-B-C up to back test the huge floor area...then Sayonara

 

 

 

 

[andr99]

I used the word bullish for the dax which is not strictly correct.....it will be bullish from now on. 

[K Wave]

I used the word bullish for the dax which is not strictly correct.....it will be bullish from now on. 

Next few days may provide more clarity in that regard...

[K Wave]

Watch 12500 on your DAX...you are probably not gonna like what happens if it gets breached...

[andr99]

until 12400 holds, no problem

 

https://i.postimg.cc/vmxWdv1X/dax.png

 

I would rather pay attention to that dynamic resistance, when the dax gets to 13100 they will meet and it will broken up, although not immediately, but more probably after a first or second attempt

 

when that trend line is broken up impulsively, the bear is over, which is ''soon on these screens''

Edited by andr99, 21 October 2022 - 08:26 AM.

[K Wave]

So far looking like a hold for bulls..

 

now we see if Yen action makes it a bit more exciting from here on long side...

 

Huge pivot now set at RUT 1700...as long as that holds, 1800 print on cash still not off the table.