Dax starts long-awaited consolidation – local professionals are in a quandary

Dusseldorf The German stock market is going down. The Dax fell 0.5 percent in the first hour of trading and traded at 15,116 points.

Even before the start of stock exchange trading, Martin Utschneider, technical analyst at private bank Donner & Reuschel, announced: “The probability of profit-taking this Thursday is quite high”. In his view, the focus will initially be on the 15,078 point mark, later perhaps 14,980 points.

After an increase of over nine percent since the beginning of the year, a consolidation on the German stock market should not come as a surprise. Thomas Altmann from the investment house QC Partners thinks it is “rational to make a profit now”. As long as the newly conquered and now psychologically particularly important 15,000 point mark holds, “nothing will go wrong in a consolidation”.