DAX tech outlook

Left hand the DAX
( German stocks) reaching its wave A highs as it will eventually mark a
double 13 (Combo and SEQ) at the former high around 4700. We can expect
a sharp pullback from there towards the Gap/lap area 4400 generating a
head and shoulder bottom probably before heading higher in wave C up.
As Germany is heading for big elections this year we can expect juicy
perks for the voters and promises as Germany is run by a Grand
Coalition ( imagine Reps and Dems forming a government and your close to the picture). This overall confirms that the global wave A comes to an end as we had a resilient
week starting off weak but about to close relatively strong – I do
prefer it the other way round starting out strong to close weaker which
was not the case. The VIX is in week 7 entering week 8 next week with multiply daily 13’s in place. we will have some challenging Astro events over the weekend and early next week which might trigger a turnaround for wave B down.

~ by behindthematrix on April 24, 2009.

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