Tuesday’s session was dominated by bears. Before European session Asian stocks ended with decreases what inflicted negative attitude in Europe. DAX started with 70 pts bearish gap and till the end of session bulls couldn’t close it. Situation was even worse in the afternoon after weak US data.
Of course this data was just an excuse because for two days S&P500 was getting close to key level 1,950 pts and it started to decrease close to it. As a result US indices ended with depreciation: S&P500 -1.25%, NASDAQ -1.47%, in Europe CAC40 -1.40%, FTSE100 -1.25%, DAX -1.64%. 26 out of 30 DAX companies lost some value, the most: RWE -5.24%, E.ON -4.44%, ThyssenKrupp -3.89%. Only 4 companies gained yesterday and the leader was without doubt Deutsche Bank +3.22%.
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technically on DAX future nothing changed and being close to 9,600 pts resistance helped bears. As I pointed out in previous analysis only breaking above 9,910 pts will change the sentiment to bullish.
