On Wednesday German indices did good job. Especially DAX30 which came back above 10,800 pts and for some time it was even above bullish trend line.
In the first hour of session there were strong gains on DAX. After getting close to 11,000 pts there was lack of bulls and the result is that the maximum of session was 10,994 pts. German indices results; DAX +0.70%, MDAX -0.27%, TECDAX +0.87%, SDX -0.07%. 23 out of 30 DAX companies gained, the most Henkel +6.70%. What’s interesting, despite personnel strike in Lufthansa, it gained yesterday +0.64%. 7 companies lost, the most K+S -3.69% and Deutsche Post -2.99%.
DAX is in consolidation all the time, it lasts for two weeks already and now is a little wider, between 11,050 and 10,730 pts. If it will be broken we can start talk about more dynamic moves.
Like every Wednesday there was publication of newest data about investors sentiment on DAX:
- institutional: bulls – 54%, bears – 21%, neutral – 25%
- private: bulls – 63%, bears – 15%, neutral – 22%.
There is bigger amount of undecided investors. Among private investors there is bigger amount of bulls than last week.
