DAX goes back below 10000 points

6 thg 9, 2015

I found another potential downtrend (inside the larger DAX downtrend), which might begin Monday or Tuesday after the Chinese markets have re-opened (after they were closed last Thursday and Friday). Historically the Chinese market re-opens lower after their national holiday, which would increase the sell pressure on the DAX, which ended last week already with a bearish setup. A falling Chinese stock market would put more fuel to the fire and could bring the DAX back down below the psychologically very important 10000 points area.

Short entry: 9994
Stop loss: 10085
Target: 9488