DAX update

DAXLast updated 06/11/2018.

The German Bulls have some work today, but it seems that we’ve only had a b-wave bounce so far and a break below the late-May low will target the 61.8% extension for wave-ii instead; a rather common 2nd wave retracement level. If price can move back above the 20d SMA and above last week’s high than I’ll prefer to count it as minor-1, and –2 and now minor-3 underway. Given where the US’ indexes are, the former (lower first) may be transpiring. Keep those stops at the 200d SMA: sometimes you’ll get whipsawed a few times,  but the ultimate big run will erase all those small losses and make a whole lot more in addition.

DAX-2