Geyer’s market commentary: DAX – Is this already panic, or what?

DAX – Is this panic already, or what?

Was that really such a surprise or had it already been clear that the market would have to undergo another correction? Every trend needs corrections and the DAX has risen over 2,000 points without one. It was foreseeable that sooner or later it would come to this, a collapse. It is also not surprising that the longer a correction has not occurred in the current trend, the more severe the correction will be. It was also no surprise that the countermovement occurred in the area of ​​the latest tops. Now the correction is here and the question is how far it can go down. In any case, Wednesday trading begins with further significant declines. The indicators are now giving the first sell signals. It is noticeable, however, that although turnover increased slightly yesterday, there is still no sign of a sell-off. The current week will at least cause uncertainty among market participants.

S&P500 – declining upward momentum and failed at the old top

The picture for the S&P500 is similar to that of the DAX. Here too, the index failed at the old top and made a strong downward movement. Before that, however, the upward momentum had visibly slowed down. The indicators have generated sell signals, so it is no surprise that the index has now come under pressure. This week will be turbulent, so further losses are to be expected.

Gold – weakening upward momentum continues.

Gold has not come under pressure, but is not moving much further up either. The USD 2,500 mark should initially represent a certain resistance. However, the old resistance zone should be able to be used as new support. The sell signals from the indicators should not be overestimated, as the trend is quite stable. The trend is therefore still intact, but a small countermovement should be taken into account.

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Christoph Geyer, CFTe, Lindenstr. 31, 65232 Taunusstein Germany www.christophgeyer.de

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