European (and global) stock averages aim still higher (DAX Forecast)

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Published May 21, 2020

- This week’s “risk on” theme remains intact with global stock averages building on the strong gains from earlier this week, probing up to recent peaks over the past 24 hours.
- The negative topping patterns from mid-May have been further rejected, with the April cycle peaks in the crosshairs.
- This positive theme was driven by hopes of a COVID-19 vaccine (somewhat dented), alongside agreements on a European recovery.
- Here we focus on the futures contract on the German benchmark average, the DAX.

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European (and global) stock averages aim still higher (DAX Forecast)

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