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The DAX and S&P 500 have been in leadership roles on the upside for the past few years. Over the past four months the DAX index has declined a little over 10%, influencing the S&P 500 and much of Europe.
London & France has followed the DAX lower, pushing bullish sentiment in the United Kingdom to levels seldom seen in the past 5-years.
This week a bullish wick looks to be in play at dual support. This pattern could be good for the German ETF (EWG)
Joe Friday…What happens in the DAX from this point forward (will dual support remain in place) will greatly influence future prices in the S&P 500!