daxdualresistancelowermomarch10CLICK ON CHART TO ENLARGE

The Power of the Pattern believes it is important to keep a close eye on how leading stock indices are doing.  The DAX index has been HOT over the last year, up 25% in the past year. The chart below reflects that it up over twice what the S&P 500 has gained in the past year.

The chart above reflects that the DAX finds itself testing rising channel resistance as momentum has created a series of lower highs.

performancedaxspyoneyearmarch10CLICK ON CHART TO ENLARGE

With the DAX being white hot over the past year, how it handles resistance could well impact the S&P 500 going forward!


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