Don't Ignore This Chart!

DAX has yet to break down

Despite all the troubles in Europe, the German DAX ($DAX) remains in a uptrend since March 2009 and has yet to roll over. The index is above its 12-month moving average and MACD(5,35,5) is positive. However, notice that index retraced 50-62% of its prior decline and is starting to stall. This is a critical area to watch.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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