Dax makes up for initial losses – bears among the professionals have capitulated

Dusseldorf The German stock market made up for price losses at the start of trading. At noon, the Dax is again unchanged at 15,517 points. The daily low was 15,407 points. The leading index ended yesterday Wednesday almost unchanged at 15,222 points.

For Martin Utschneider, technical analyst at the private bank Donner & Reuschel, the American Philadelphia Fed index, which is considered to be the leading indicator for the important purchasing manager index, is likely to cause a bitter disappointment. “Coupled with the current market technology of the Dax 40, a slightly impulsive mixture,” says Utschneider. He locates the lower limit of the Frankfurt benchmark at 15,233 meters.

With this in mind, investors shouldn’t expect much from today’s trading day. The chances are rather bad that the Dax will sustainably rise above 15,527 points. That is the upper limit at which the leading index has always failed in the past few days and which accordingly forms a first hurdle for further price increases.