Still a way to go down

Feb 8, 2016

I believe that DAX will hit critical buyers somewhere between 6 and 5 k, so there is a good way left. However we are now extending past the latest swing low, this movement cannot continue forever and should be exhausted by the time we reach 8 200s. In other words we may expect a surge back to 10 100s, where DAX should find more powerful sellers before it gets pushed down to 6 k.

Feb 10, 2016

Note

Daily chart:
It appears that we made a bounce of the lower median line (blue, dashed) and are heading back to re-test the prior swing low (orange, horizontal) from below. If we stop at that level without even reaching to the nearby center line (grey, dotted) I will see it as a sign of extreme weakness and expect a rapid acceleration to the downside.

Feb 22, 2016

Note

This analysis is no longer considered to be valid. Thank you for your attention and happy trading!