Steady she goes

No new analysis needed, still following the path outlined in the September post. There are a lot of waves still to expect, so the crash a lot of people are expecting could take a while, unless of course my wave count is terribly wrong.

DAX monthly

I guess when the current wave is complete there will be a pullback to about 11.900, which is the standard Elliott wave level for a fourth wave.

DAX weekly

Looking at the weekly chart a possible upside target is where wave v equals wave i, this doesn’t have to be the case, but since we are in uncharted territory this is what we have to work with.

My conclusion is that a intermediate top can be set relatively soon, with a down target of 11.900, but after that I expect a new rally to a new all time high.

I’m also keeping lower time-frame charts, but for this blog I think they are of little use.

That’s all I have to say this time, trade safe!

About Marco Zuilhof

My name is Marco Zuilhof. I live in Amsterdam, the Netherlands. I’m a self educated trader, trading my own money. I count Elliott Waves and Bressert cycles in real time, this is hard to do, and error prone. So everything I write is only an educated guess, not an advice to buy or sell certain stocks, or to take a position in the market. Every month I intend to write something sensible about the DAX index, guessing what the future might be, and I make a daily morning call on the DAX, mainly to prepare myself for the day, however that I do not share for free, but for €1 you can read the actual one.
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