First of all, my presentation of the current DAX situation in detail in the video, before we go into more detail with the charts:
The Momentum showed itself to be still high right at the start of trading in the new week. The ifo index in particular was able to provide new impetus here and then bring the DAX back towards the resistance zone after the initial sell-off.
We will now go into more detail on this.
DAX only stronger again after the ifo
Right at the start of trading there was a dynamic slide to the bottom. After opening with a big GAP in the morning, this was also the first signal what was going on in the Livetrading could be implemented:
Please join me again in the Live trading webinar for the DAX opening to the first concrete trading ideas and their implementation from 8.55 a.m.:
The GAP thus continued to establish itself on the upper side on Thursday and that on Friday initially decreased. Around 15,000 points, more and more buyers came into the market, who increased their commitment accordingly according to the ifo index.
The mood barometer was convincing with all three characteristics and not only beat the values from the previous month, but also all forecasts. This is shown here accordingly over time:
This led to a return to the top of the chart, where the majority of the DAX then also traded in the afternoon. Accordingly, the trade ended positively, like the Data from the Frankfurt Stock Exchange show:
A trend can therefore now be drawn that extends from the lows of Friday to the last XETRA prices:
What impulses did Wall Street show?
A look at Wall Street at the start of the week
The bank values stabilized on Wall Street and thus also gave the Dow Jones a corresponding hold. The GAP at the start of trading was initially dominant and in its direction, with the relevance of the night highs from the perpetual contract, the first trading focus looked as follows:
You can also do this again from 3.25 p.m im Livetrading track with me:
Conversely, the technology sector was weak. In the Nasdaq, there were mainly minus signs, which were not caught up by the end of trading. The market-wide S&P500 and the Dow Jones developed much better at the start of the week:
Overall sentiment is brightening somewhat, as the Fear and Greed Index shows:
What can be derived from this for today?
DAX ideas on Tuesday, March 28th, 2023
With the movement on Monday, that became one thing GAP slightly reduced on Thursday and a new price gap formed on the underside. I have marked both for you here:
The resistance is still anchored at the top of the chart, which can then mark a medium-term signal into the range of the last two months:
This is exactly what seems to be “luring” the market again at the moment and thus showing higher prices again in the pre-stock market:
Feel free to start your trading day with me right away – more information and the dates of the day will follow here.
My tools and other cornerstones for trading
I will implement my setups with CFDs and futures. I primarily deal with that Broker JFD and these conditions and use for them Chart analysis tool StereoTrader.
We like to talk about what is happening in the market in the live trading room. Sign up for the Access to the live trading room here free of charge – the dates are anchored in the teaser image:
On the Twitch channel FIT4FINANZEN you will be presented with further detailed inspiration and opinions. Feel free to watch it for free and over several hours, in which other traders and speakers LIVE comment on the course of trading and other financial data in HD and discuss their approach:
Appointments for Tuesday
A first look at the quarterly figures of the week can be found here. Micron Technologies is particularly important today:
The economic calendar only shows relevant data in the afternoon. So we look at 2:30 p.m. on the US goods trade balance and the Redbook Index.
The speeches from the central bank environment, especially from ECB President Christine Lagarde today at 3 p.m. could move the market.
The summary of all daily appointments can be found here as a table:
I got these key points from the economic calendar taken from this page. I then update these appointments in the daily morning analyses.
With that, I wish us a lot of success in trading in the new week.
Yours Andreas Bernstein
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Source of the news: Trading meeting