On Thursday there was a huge volatility on German DAX. Index moved between support and resistance reaching 500 pts of range. Traders on DAX were scared because S&P500 fell after weak behaviour of Apple shares. Finally after the trading session in Europe S&P500 returned on green side and finished by -0.02%.
The Evening Star Pattern (I wrote about this pattern yesterday) has confirmed its effectiveness. Right now chart looks even worse because after Thursday’s session we have downward candle with a long upper shadow. But it has to be noted that DAX has been moving since May 4-th in consolidation between 9810 pts – 10100 pts. Thus there is nothing predetermined on DAX right now the most important is the behavior of the S&P500.
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