DAX is one of the most popular indexes in the world. It is listed on Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 19.05.2017
Stock markets end Friday’s trading sessions in a positive way by making back some of the losses. Donald Trump’s bloomers has triggered confusion, as we wrote more last week. Investors are concerned that the confusion surrounding US president will delay tax reform and implementation of infrastructure investments. The promises of new US administration were the main prerequisite for growth in the equity markets.
Favorable outcome of the election in France and the recent turmoil around Washington make investors more interested in stock markets in Europe. On Friday, Meril Lynch Bank of America reported that US equity funds withdrew $ 8.9 billion and equity funds in Europe rose at the same time by $1.1 billion. The same report shows that funds from US equity markets are flowing out for 3 weeks in a row and to Europe has been flowing for 8 consecutive weeks.
DAX index on Friday closed 0.39%, S&P 500 was also able to show an upward trend of 0.68%. Japanese Nikkei index also ended the day with decreases -0.45%. DAX index jumped above 12600 points, suggesting a move towards historical maxima around 12800 pts.
DAX Intraday
After opening futures market, DAX index broke through resistance at around 12660 points. Currently fighting for a breakthrough R2 near 12700 points. If this would be successful it should open way to R3 near 12735 points.
