German Dax 10000 New All Time High?
Stock-Markets / Germany Jun 01, 2014 - 01:12 PM GMTMost of the FX markets are still slow and choppy within corrective price action, while metals and stocks are trading completely on their own. We have seen a push to a new high on the S&P 500 yesterday, very close to 1920. At the same time German DAX remained trapped in range because of low volume during the European session. Some would have thought that the S&P can be in final stages here within bigger uptrend, but if we consider that DAX is still in fourth wave then we need to be aware of even higher swings on US markets.
We see DAX in fourth wave that can either be a zigzag or a triangle, but in both cases bigger move should follow to the upside. On the downside support that we need to keep an eye on is 9840 and 9865.
German DAX (June 2014) 1h Elliott Wave Analysis
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Gregor is based in Slovenia and has been in Forex market since 2003. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets; from candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful to traders.
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