DAX - selling rallies signalled to dominate investor sentiment
​JUN'17 contract - Weekly and daily signals have been pointing to selling DAX into expected strength, yesterday at 12854.0. Although our stop was tested and survived by only 2 Pts, this was the correct strategy, investors selling the rally for sentiment to deteriorate by over 125 Pts from the top. While this is negative, trend of higher daily and weekly lows remain intact so the pullback could be a temporary one. However with no sign yet that the deterioration is ending the outlook for Thursday remains bearish and the call is to sell on the open and then at 12831.5, yesterday's close with a stop loss at 12874.0, the last 6 hour high. Targets are to 12777.0, yesterday's low, 12694.0, Tuesday's base and 12616.5, June's low trade.
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