SEP'17 DAX - bearish case gathering momentum
​7.00am open, SEP'17 contract - This week's signals have pointed to staying square of DAX on the open and to selling the rally at 12804.5, which was a window left open since last Tuesday's close. This has been close to the top and confirmed, as in line with this Tuesday's signals which were outright bearish, sentiment has deteriorated by over 250 Pts since Monday's 12835.0 high. A daily bull trend has been broken and with no sign that the deterioration is ending, but with intraday sentiment much oversold, the outlook for Wednesday is to sell only modestly on the open and then at 12665.5, a re-test of the broken bull trend with a stop loss at 12737.0, a 62% recovery to the losses posted since Monday's high. Targets are to 12525.0, the 5 week low, 12442.5, the 9 week base on Jun and 12358.0, a 38% pullback to the entire 2017 gains.
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