DAX – September 25th
Thursday’s session started with bullish correction. There was help from Volkswagen which opened with 5% gains and in an hour it almost doubled its performance. However bulls were strong only for first hour. After 10 there was drop of all indices with finally results: DAX -1,92%, MDAX -1,92%, TECDAX -1,46%, SDAX -1,30%. From all of DAX companies only Volkswagen gained, but only +0,58%. 29 companies lost value, the most BMW -5,15% and Daimler -4,43%.
On Thursday chairman of FED Janet Yellen spoke at University of Massachusetts. During the lecture she said that first hike of the rates will happen in 2015.
DAX Futures reached 9,400 pts and there was small breach and the rebound. Investors managed to reach above resistance on 9,500 pts. Next resistances: 9,700; 9,780; 9,880; 9,970. On monthly time frame we can see test of 5-year uptrend line. In this place market should rebound and the strength of rebound will indicate strength of bulls.
