DAX futures (Sept 2017 contract is FDXU7, continuation contract is FDXc1)
The DAX remains under pressure as the market has dropped back towards a test of the near term lows again at 12,077.
There is now a sharper downtrend that comes in today at 12,220 as rallies continue to be sold into.
The bulls will point to the fact that the selling pressure has dried up on four of the past five sessions as the market has dipped below 12,100 but the negative configuration on the daily momentum indicators suggests that this support will remain under pressure.
The Stochastics have been camped in bear territory for the past week and the RSI is firmly negatively set up.