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DAX backs off after almost setting a new record earlier today

The positive opening for the European stock markets, which saw fresh record highs delivered for the FTSE 100 above 8,350 almost delivered the same for the DAX. The German benchmark index came close to reaching and perhaps surpassing the current all time high, at 18,567. In the event though it has stalled just ahead of that level. The high seen earlier was set at 18,542. It has since backed off towards 18,425. The low seen was set at 18,427. It has rebounded off that low now, but it seems that 18,567 price point is a bridge too far perhaps today? The US markets have been open for around 30 minutes now and still trying to thrash out a direction. The Nasdaq 100 is trading back above 18k again and that is lifting the Dow and the S+P, although there is a degree of divergence in place still. So, as the US markets attempt to recover their opening lows, that is pushing the DAX back closer to the 18,500 level once more. 

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