The elliott wave principle applied in real time and to all markets.
Sunday, February 10, 2013
Elliott wave analysis of the German DAX Index
German DAX Index
CJ asked me if I would take a look at the German Dax.
Here is my count for the German DAX. As can be seen I regard the entire price-action since the 2007 high at 8,151.57 as corrective. The high we have just seen at 7,871.79 is in my view wave b of an expanding flat correction, which began at 7,441.82, that means we should be looking for a powerful c-wave decline to below 4,965.80.
CJ also asked if I think a top is in place at 7,871.79 and I do think it's the case. The decline from the 7,871.79 does look impulsive in character, meaning that the decline is in five wave down. Short term I would look for a slight recovery towards 7,694.42, which marks the top of wave iv of one lessor degree and at the same time marks the 50% correction target of the decline from 7,871.79 to 7,537.29. Once wave ii is over we should see a powerful decline in wave iii down to 7,166 as a minimum.
I'm a keen Elliott wave follower. I do use, what you might call, standard technical analysis too, but my main focus is on the Elliott Wave Principel.
I use it professionaly as well as in my private affairs. To give you an example I sold my house in late 2005 and are currently renting a flat, not expecting to reenter the property market before 2012-2013.
I'm very much into long term seasonal cycles and demography too.
Waiver: I will not accept any responsability for any loss of funds because of any investmenst done on the basis of my analysis. The analysis herein are done with the utmost due dilligence, but can from time to time be wrong and point you in the wrong direction.
You are always wellcome to pop me a qustion or comment on my work and I will try to answer your question, but might not allways have the time to do everything.
My e-mail is: firstname.lastname@example.org