Cool, rational, predictable and with a clear trend. This is how it should ideally be on the stock market. At the moment we are seeing exactly the opposite. Prices are constantly changing direction because investors are rushing in and out again: no one wants to be missing when things are going up again, but at the same time no one wants to be there when things continue to go down.
The fact that the leading German index, the Dax, closed the past week up 2.4 percent despite all the hustle and bustle and uncertainty is a pleasing sign of stability. It was the third weekly win in a row. The stock exchange barometer also recaptured the mark of 12,600 points. But that is by no means a sign of the all-clear.
Uncertainty will continue to dominate the markets in the new week. The crucial question of whether the stock market has already seen its bottoms or whether they are yet to come is still unanswered.
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