Labrīt - ( Latvian 🙂 )
Late sākt Atvainojiet puiši. (Late start sorry guys)
DAX - PP Levels
I think we've just about made a LL and seeing a bit of bounce and steadying of nerves. This came through in sound bites from yesterday once the 2-3% devaluation was put in perspective. I don't think this is the end though. I'd be inclined to say start of new currency wars. Either way it has had the positive framing of the Fed rate rise for what it will do? No doubt left whether we are in a new bull cycle as some analysts I heard/read were sprouting at one point.
Expecting DAX to possibly make a run fro 11100s & PP-R1 11282 as target.
Not confident however, and still favour the dark side (had to say that). We've also had thunder claps, lighting bolts and heavens of rain over night. This is sunny Worthing here... 🙂
We may get some consolidation and few days of sideways move before further falls. Guessing here but PPoints show the way. I'd go long above PP red line and short below it. I'd also go short at R levels just taking punts for another major drop down.
Watching and waiting for dead cat bounces for the next big leg down... 👎
PP-R1 @ 11282
PP-0 @ 11087
PP-S1 @ 10844