Please also see my video analysis available on YouTube as early as 8am most trading days for more information:
Today’s morning video is anchored here:
The DAX had a strong week that ended April with a profit overall. There was no significant consolidation. It was rather individual days that turned red and ultimately only formed a stopover before new historical highs.
A look at all trading days of the month with the overall performance is shown here:
Although the index was not able to develop more strongly than the Wall Street indices, it nevertheless remained on the upward trend and even set a new high for the year on the last trading day of April:
I will now go into the chart images separately.
DAX performance in the chart
The highs for the year have only been extended shyly and minimally recently. This created a resistance that we had repeatedly discussed in the last morning analysis and that has been shown more precisely by 15,900 points since mid-April:
Since there was no longer consolidation on the downside either, a range between 15,700 and 15,900 just above the very large range from February (shown in blue) could be outlined:
It served as an orientation in trading and as the basis for some trades, which I showed you every trading day, especially at the opening of the DAX. As on Friday right at the upper boundary zone:
Feel free to pick up again from Tuesday Live trading from 8:55 a.m part:
In the “Big Picture” are both range areas very nice to see and thus bring up two scenarios:
If the index bounces off here, we will probably see another swing in the range outlined up to 15,700 and, in the event of a breakthrough, an entry into the large trading range from February/March. If the sustainable jump above 15,900 succeeds, 16,000 and thus the all-time high as a derivable scenario is in sight.
The XETRA-DAX closed very precisely “up” on Friday and thus made the situation very exciting for the start of trading this week. The exact ones Data from the Frankfurt Stock Exchange are shown here as an image:
There was another upswing after trading hours, where one can suspect a breakout on the upside in the perpetual contract:
What did the US markets contribute to this?
Wall Street and especially Nasdaq very strong
A similar picture emerged on the Nasdaq. In the last week of April, the technology index processed the quarterly figures from Meta Platforms, Microsoft and Alphabet well and benefited significantly from these heavyweights. In the range outlined for the last few weeks, it moved up adequately to the DAX and then reached a new historical high on Friday evening, which also represents a high for the year there:
The Dow Jones moved along, especially because of Microsoft, which is listed in the index. There was a monthly but no annual high. The chart is still impressive:
In conclusion, the same picture as in the DAX can be assumed: If a sustained breakout occurs, the rally should rise to a new level and thus generate another buy signal. I would be happy to go into more detail in the video, as well as in the Live trading from 3:25 p.m from Tuesday.
Which dates do you have to pay attention to?
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:
Dates on the stock exchange for the start of May
The view of the others quarterly figures of the week, which provide a look at the balance sheets of US companies for the first quarter of 2023, starts trading on Wall Street on Monday:
Apple in particular should be exciting on Thursday as the company has the largest market cap on Wall Street.
In addition to the quarterly figures, there is also a lot of data from a macroeconomic point of view. Above all, the two central bank meetings of the FED and ECB are in focus this week. Impulses can therefore be expected from this side on Wednesday evening and Thursday afternoon.
We talk in detail about the dates in the morning on the individual trading days.
I have listed all the important dates of the week for you here:
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