Technical outlook for the DAX – last 3 weeks of wave 3

On the left hand, the DAX weekly chart being in the crash capitulation mode of wave 3 of 3. The DAX reached the 61.8% retracement level at 4500 in a fashion never seen before. We are 20% below the weekly Bollinger at record volatility and we get here as well the confirmation that the overall current trend has another 3 weeks to go. Although in my experience, such a steep drop below Bollingers produces a brief -within a week- snap back reaction, which can be of substantial magnitude (10%). That could mark wave 4 of 3 up before we get finally wave 5 of 3 down. That will be exactly almost on the day of the US elections, which happens exactly on a rare astrological event – Saturn opposite Uranus (happens roughly every 45 years). The current market turmoil is under this influence since the last time we had this constellation 65/6 markets dropped around 30% roughly. Only this time around, we have more heavy wait stars in negative angles which also include karmic impacts. More about that you can even find in an older post but I will try to make some research on that over the weekend.

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~ by behindthematrix on October 10, 2008.

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