“Professional investor mood is too good for a trend reversal”

Dusseldorf The German stock market continues to consolidate. In the first hour of trading, the Dax fell 0.4 percent and was listed at 12,687 points. Already yesterday, Wednesday, the 0.2 percent in the red closed at 12,741 points.

Courses above 12,931 points are necessary for a continuation of the previous 1050-point rally since the annual low at the end of September. This is the highest point on this move higher and was reached last Tuesday. From a technical point of view, the short-term situation only deteriorates when the Dax slips below the 12,400 point mark.

One burden is the rapidly rising bond yields. The yield on ten-year US government bonds climbed to its highest level since July 2008 at 4.15 percent this Thursday. And this trend is continuing in this country.