There was a clear break out of the recent bullish trend channel today and we have now turned short term Bearish and Long term bearish. I was long and got stopped out, so I am watching. The market has crashed through the daily S2 already today and slowing up around 9200. A break below 9200 can open up 9150 and lower.
I am moving into a selling mode once again as the bearish trend is now back again. Soft IFO and PMI data has led to the break. We are short term bearish below 9320. We are long term bearish below 9980. I am watching the S&P500 as well to see where it might find support.
Today the Dax has already moved quite a lot so I may not be shorting it today, instead it may be best to wait for a pullback and short from higher levels, or wait until tomorrow.[wp_ad_camp_1]
Dax Support & Resistance
|200 Day EMA||10320|