@AnasParis .... while I certainly would love to catch the 400 or even 500 points on Friday ...(and I hope we all do) .. can you offer any explanation as to why ?
As we have all seen on this thread (and any thread that has tried to call the top on any index over the past months) it is hard to call the top. One day you will be right ... and you might even be right tomorrow or Friday but apart from the red line on your chart .... why ?
Today on the DAX was typical ... an up and down morning with certainly bearish signs and then a steady grind upwards with the US!
As long as money is flowing into the risk markets from gold, from real estate, from bonds, from cash deposits, from under the pillow .... it is going to be hard to nail the top.
I do think that it all looks over bought and that the fundamentals of the European and indeed Global economy are not looking great but lets not forget that any devaluation in the Euro is good for all of the DAX component companies. If the EURO devalues by 10% that is a lot of money off a brand new BMW or an electric train from Siemens.
I would say that we should all be vigilant for any sharp downside .. yes ! However beware of calling tops and bottoms. Lets look for the technicals and see some follow through !
Remember the old saying "The markets can stay irrational longer than you can stay solvent"
Best of luck to everyone.
p.s. It'll probably drop like a bloody stone now !
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Thanks for your input - very appreciated!
We are invited by our french member @AnasParis to get a very detailed analyses on the Dax.
This will include Elliott counting (main counting plus subwaves).
As this profound analysis needs some time - he will put it here on the thread from starting next week.
Maybe some translation by me for underlying details
So stay tuned - we will follow this one / and comparing to my signals very carefully.
Looking at the 30 min chart intraday (cash hours) of the DAX
we can find a development of a nice diamond right now.
The end is around 10:00 tomorrow when the form is fulfilled
and the next price drop could start - we will see.
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Last edited by Big Mike; May 17th, 2013 at 02:34 AM.
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