Into resistance – DAX approaching 11.850

A couple of weeks of strength in the markets and everybody is cheerful again. In the weekly context this looks like a normal retracement of last year’s sell-off. The weekly trend is down.

We are trading below the 100 week SMA

Weekly trends are solely for the very patient investor. And cost of carriage will kill you on any scammy retail-trader brokerage account. Still I want to note that a touch of 11.850 would pose a good place for a long-term short.

Let’s see how it plays out. But don’t be surprised if markets run into trouble in the coming months.

* Remember, I don’t give investment advice. I write these posts for my own joy and your entertainment. Always take responsibility for your trading decisions and analyses and don’t ever blame me or anybody other than yourself. I might or might not be positioned in the instruments I write about.