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Reflections #6 - Dax looks heavy at the ATH

Since the lows in Oct22, the Dax has been on nothing less than an impressive rally back to the ATH just above 16,000. The rally has run out of steam recently not least since economic numbers for Germany show a recession for H2/22. Momentum indicators look very overbought since longer and signal a negative divergence (CCI). A sharp correction looks unlikely as long as US equities remain supported on short coverings. Nevertheless, an air pocket can come up any time...stay strapped into your seats.




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