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Germany’s blue chip index (DAX) is extremely weak. It may be a leading indicator for the US market.
DAX reached its peak on January 23, 2018, one week earlier than Dow Jones index. Then it dipped as a falling knife. It created two gaps, which haven’t been filled yet and have confirmed the M head. When it broke down the 12,850 neck line, the southern run accelerated. After it bounced back to form a flag, this week the German investors dumped the stocks again. Today the DAX index broke down another support 12,000. Next target will be around 11,390.
Will the US market follow DAX?