Well, the normal adage of a normal market trade says " sell in May come back in September." For those who are short since May it may have been a catastrophe. Having said that, The market is facing a normal and regular correction. This correction may last until 9400 or 9200. Bellow that level, it may very much slip bellow 8950. Furthermore, the money is still very cheap, and there is no risk at a forthcoming futur that a big central bank such as FED or ECB lift up the interest rate. Therefore, until mid August, we may assist to a correction phase of DAX were buyers are on holiday and sellers preprared there order with a proper stop loss and a good TP.
Well there is a possibility of a correction until 8950. Bellow that level, it has another weaming for European and World economy. So I do not thing that we are there yet although without QE and ECB's cheap money, we should have been at around 7400. But a trader is always buying a real situation on the market. And the real situation is that there is cheap money in the market. So banks borrow easy money and invest on stocks.
HamedAghajani
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Thanks for sharing this and also your other comment on S&p 500. Do you see any possibility that the correction come down to 7980?