For the bull market to keep running higher, it could well depend on what the Dax does at the 9,770 level!

The 3-pack below looks at Germany, London and France.



This 3-pack looks at the DAX, FTSE 100 and the CAC 40 over the past 20-years.

As you will notice the DAX has made a series of higher highs, the FTSE has made a series of level highs and the CAC-40 has made a series of lower highs. This would suggest that the DAX is strong and a leader over other leading European stocks indices.

Below looks at the performance of the DAX and SPY since 2011



The DAX turned up in 2011 a short time before SPY did the same.

In April of this year, the DAX hit rising channel resistance and while this was taking place the S&P traded sideways. Once the DAX started turning weaker, it did’t take long for SPY to follow it.

As mentioned in the top 3-pack, for investors to continue to run with the bulls, it appears very important that the DAX remain above the 9,700 level. If it would close below its 4-year rising channel, selling pressure could well take place.

The DAX has played a leading role in Europe for the past 15-years and what it does at the important support level would impact Europe and the stock indices in the states.

I humbly feel it remains important to keep a close eye on the DAX index!

If you would like to stay abreast of price patterns on a global basis, you might find our weekly Global Dashboards report of interest!

To see more details on this report Click HERE or below!

click here button





How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past