On Wednesday bulls showed their true power. Tuesday’s session and loss of 11,000 pts with higher volume didn’t look good, but on Wednesday bulls showed their teeth. As I wrote yesterday US citizens likes to go for holidays in good moods and it was confirmed. In the same time great data strengthen US dollar and set new minimum on EURUSD. German bulls didn’t need anything more to gains like good session on Wall Street and weaker euro.

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In the beginning of yesterday’s session German indices gained and all of them ended day with profit. DAX +2.15%, MDAX +1.53%, SDAX +1.16%, TECDAX +1.39%. All 30 German indices gained value, the most K+S +7.67%, which is a fertilizer producer. Over 3% gained Allianz +3.86%, Volkswagen +3.84%, Vonovia +3.72%, Munchener Ruck +3.31%.

Because of today;s celebration of Thanksgiving in the US we don’t expect much volatility on the markets. Supports are at 11,150, 11,050, 11,000 pts. Resistance is all 11,500-11,300 area created by August bearish gap.

Like every Wednesday there was publication of newest data about investors sentiment on DAX:

  • institutional: bulls – 56%, bears – 21%, neutral – 23%
  • private: bulls – 57%, bears – 21%, neutral – 22%.

Tuesday’s decrease scared private investors. There is 12% decrease since last week. Of course it didn’t change sentiment, bulls are still dominating.

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