Dax loses more than 100 points – Many pessimists among the professionals have capitulated

Dusseldorf Federal Reserve Chairman Jerome Powell’s speech supports the German stock market. After the daily high of 14,563 points, the Dax slipped more than 100 points in the meantime, but was up 0.7 again at 14,508 points at midday. Over the counter there were prices of over 14,600 points, which would have meant a continuation of the rally that has been ongoing since the end of September in regular trading. The rally’s high of over 2700 points since the end of September is 14,571 points.

Despite the price gains, there are increasing signals that this upward movement is coming to an end. The leading index apparently does not have the strength to rise to new historical highs. Tomorrow’s trading day should still be important. If the Dax closes above 14,541 points on Friday, the rally would reach the nine-week mark on a weekly closing basis.

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