#dax $dax weekend review

 Monthly Chart: Starting with the main trend, it is still up as per MyWave (blue arrow in main chart) and has seemingly survived the drop to 8351. RSi is still blue, the stochs are turning back up and MACD is about to clip zero again. However, of particular interest is the RoC study. Given what we have seen on the same on the 2hr chart all week, as a fractal (see below), I think following the wave till the upper resistance line is touched is a fair game plan, unless something breaks to the downside.

 Weekly Chart: The weekly chart is completely bullish on all my studies and the RoC breakout into the all time high is perhaps telling. Will it all roll down hill and take the monthly with it....well unless that regression channel breaks, not worth considering at this point in time. MyWave has also just turned bullish again, adding to the argument that the 8351 low is in.

 Daily Chart: The push into the 10000 line last week saw the stochs, RoC and two of the price envelopes all looking overbought, but if that 10048 line breaks to the upside, I think the weekly momentum will just keep grinding up from here. Last week was a killer for bears in my opinion and any holding on in will really feel the emotional pain if price darts up.

 Two Hour Chart: Price was driving negative divergence all week in the studies but nothing really gave to the downside. Of particular note is the RoC here in conjunction with MyWave. If that pinball flipper breaks to the upside whilst taking out 10048, then the RSi is in support and the MACD will tip back up - that would be right down to the monthly charts, all aligned on all studies. For me, shorting is not the way to go irrespective of EW counts for pull backs. Also bear in  mind the possible fractal repeat at this degree of RoC and what might be happening on the monthly RoC.

Two Hour Chart: I have just squashed down the studies on the same chart as above to show the price chart more clearly. There are plenty of targets to the upside for price to move on up to, related to grey'A-B' and 'a-b'. The chart looks like it needs a pull back to give print 'c' of 'a' of grey 'C' but for now, there is nothing at all to back downhill in my opinion and it could be a diagonal in five legs, not three. I'll start the week looking for 10048 to get tested and if it breaks, then the 100% extension of 'A-B' sits at 10245. Maybe there is something worth looking at short wise up there. Have a great week everyone.