DAX 5500 - Market Analysis

The DAX reached 5500 points in the premarket. I think there is a good chance for a rebound towards 5750. At least the gap should get filled today. I still do not think that this is THE bottom. After a retest of 5750 I think we are heading lower. For sure we could fall to 5000 without any rebound and without closing the gap but in my opinion this is a very low probability scenario.

DAX Analysis

Today's action was very negative. The German DAX 30 closed at the lows of the day at 5606 on higher volume.
As long as the DAX 30 stays below 5800 there is a first downside target around 5000 to 5100.
What this action means in a bigger timeframe will be discussed in one of the following posts.
Nevertheless keep in mind that a close above 5800 would be a first indication that today's sell signal was a false break to the downside.