The leading German index has already reached several new record highs this year.
(Photo: Bloomberg Creative / Getty Images [M])
Dusseldorf Another test of the 15,000 point mark begins on the German stock market. The Dax lost 0.9 percent on Friday morning and is trading at 15,127 points. In the meantime, the leading index slipped to 14,984 points. Yesterday, Thursday, the index fell 0.7 percent and closed at 15,261 points.
The stock market month of October precedes its reputation as a crash month; it last confirmed this reputation in 2008 during the financial crisis. At that time, the index slipped by more than 25 percent. Comparisons with the situation at that time and the current month on the stock exchange are dubious, there are no signs of a crash. But the start in October 2021 is at least stormy.
A simple look at the chart shows: The Dax has been in a short-term downtrend since the first week of September. On a weekly basis, both the highest prices and the lowest prices keep getting lower – the classic definition of a downward movement.
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