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Instead of seeing 13k in the Dax - there is a correction of this index on its way.
There are many themes supporting this.
Main point is US president himself. At the moment of election the Dax was @ 10450.
Promising tax reductions etc. were pushing stock prices. Even great first quarter
numbers were reflecting higher pricing - of course those numbers were not because
of a new president @ work. The new ATH from May 15 reached 12845 - a whopping
up of ~23% in 6 month: very unhealthy!
Now the turn seems very clear. "Sell in May - and go away" is true for 2017.
Be aware.
The pressure on the president is obvious:
• will the president face an impeachment?
• will he step out before the 4 years?
• will the big themes before election ever get on its feet?
etc. etc. - pure chaos
Such uncertainties are poison for the markets.
Thus the pricing of major indices need to be corrected.
Yes - there seems to come up an immediate correction in prices - worldwide.
To have the bigger picture - I need to take some charts daily / weekly for a better view and levels
to reach in the Dax.
Preview:
• range yesterday 150 points (Dax cont.)
• today 13h small witch
• upper resistance from 30m cloud
• total tendency - lower
• tomorrow US Memorial Day
