fundamentally, the Eurozone is a mess. We know that but … who cares as the DAX has exploded.
today we hit the 1.68179 and 1.8877 (musical notes based on the equal octave scale of music) extension targets and it’s selling off nicely.
not seeing any bearish divergence on Monthly, Weekly, Daily and…
also want us to look at the ratio analysis of the DAX/SPX and we can see it’s testing – WITH THRUST – a 30 year resistance line of relative strength.
THIS ONE AREA WILL TELL US IF THE BAND PLAYS ON – OR NOT W/ THE GERMAN DAX. When I look at the monthly it looks like it is JUST STARTING to take off parabolically. Be patient w/ this one and enjoy the show ….
EWG … where’s the ETF? it hasn’t budged w/ this parabolic move in the DAX ….?
It’s held for now so be patient and look/ with “signal reversal candles” to go long or short!
this is going to be quite a show!
EWG’s underlying is MSCI Germany, not DAX. In any case, the ETF is inline with both MSCI Germany and DAX, though underperfoming both, probably tracking error, etc.
Ivan, thanks for visiting the site. yes, definitely under performing but am watching it none the less. BART