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Tuesday, January 17, 2012

More DAX ED "Nonsense"

Whoever checked the "nonsense" reaction button yesterday turns out to have been correct.  Today's spirited rally in the DAX invalidated the ED the way I had it drawn.  But, being possessed of a very hard head, here is another shot at it.

DAX 10 MIN

DAX 60 MIN

From a longer term perspective, many are looking at the action since March 09 as a cycle b or x wave.  As the chart below shows, such a count really does not look plausible, IMHO, for the DAX.

DAX WEEKLY
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