DAX Xetra (cash index)
The bearish outlook across equities markets continue and the Fed decision last night has certainly not helped to change this view.
The DAX has been struggling under 11,000 once more this week but a mini consolidation in recent days may have had the bulls dreaming of a Santa Claus rally.
So, such luck it would seem as the market has gapped sharply lower once more today.
Although there is now a gap to fill at 10,750 any rallies should be seen as a chance to sell.
A close below 10,585 (which was the recent December low) would simply continue the market on its way towards the long term target of 10,150.
Momentum indicators are decisively negatively configured but are also falling with downside potential.
At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.