The leading German index is in a downward trend this year.
(Photo: Bloomberg Creative/Getty Images [M])
Dusseldorf The morning after the Fed’s latest interest rate decision, the German stock market is up sharply. The Dax rose in the morning by 1.8 percent to 14,223 points, a good 250 points above yesterday’s closing level. The leading index has thus completed the expected upward movement impulse. The daily high is 14315 points.
The chances are good that the Dax will leave its several-month downward trend behind. The Dax has been stuck in this trend since the beginning of the stock market year – the falling line since the annual high of 16,285 points on January 5 is currently 14,216 points. Only 100 points below is the 50-day line, which reflects the medium-term trend.
The stock market barometer tried twice to break out of this downward trend, each time without success. In order for this to succeed, the Dax would have to be listed above this level on a sustained basis – i.e. at the end of the day and on the following trading day. Five reasons why the outlook has improved:
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