The DAX is still in its range between 6120 and 5750. A break in either way would lead to a bigger move to the up- or downside. Below 5750 my first target is 5490 and then somewhere around the 5000 level. Above 6120 my target is 6400 and then 6600!
I think today or tomorrow a break will occur!
The S&P 500 just closed on a supporting trendline. Around 1226 is the 50 day moving average which could act as support too. At this point I have a bearish bias but I am looking forward to a breakout and that should be traded.
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