Yesterday’s session started with bullish gap. It was quite big – 90 pts. All Thursday’s session there were only gains and DAX ended with 1.5% profit and 10,064 pts. After great Wall Street session we can expect further gains today.
Problem with reaching inflation target by central banks raised speculations about possible expanding QE in Europe and delaying rates by FED and it should help stocks. What’s more, in the US there is a season of companies results and usually it helps gains.
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Current situation on DAX looks even more optimistic. Thanks to keeping index around 10,000 pts all trend indicators slowly show change of trend to bullish what can end correction. Assuming that we already passed bottom and we wait for new bullish impulse we can take a look at Elliott waves. Unfortunately for bears on September the low was broken for few points what can indicate that we are in 1st bullish wave and then there will be strong bearish wave and after that dynamic gains.
Yesterday all German indices ended with gains: DAX +1.50%, MDAX +0.57%; TECDAX +2.19%, SDAX +0.84%. 24 out of 30 DAX companies noticed profit, the biggest: Infineon +5.06%, Deutsche Boerse +4.55%. 6 companies lost, the most: Volkswagen -3.56%, RWE -3.48%.
