The MDAX has made a clear top medium term at least and will drop to the 6000 level til early November. The volatility of this Index is higher than the regular DAX and has made almost a 50% retracement up. Now it should give at least 38% of the profits back but 50 % is a likely scenario as well. Late Nov - Dec we will see an overall push back towards the highs before testing the lows in the first half of 2010 with even new lows. - to mark the lows for this decade below 4000.
Friday, October 2, 2009
MDAX tech update
The MDAX has made a clear top medium term at least and will drop to the 6000 level til early November. The volatility of this Index is higher than the regular DAX and has made almost a 50% retracement up. Now it should give at least 38% of the profits back but 50 % is a likely scenario as well. Late Nov - Dec we will see an overall push back towards the highs before testing the lows in the first half of 2010 with even new lows. - to mark the lows for this decade below 4000.
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