DAX comes off the boil

In the previous update here looking at the lack of gains in the Dow futures, the question was asked concerning how far the opening rebound in the DAX and the CAC might extend, before sellers re-emerged. Well, pretty much as that update hit your screen, the rebound has now met with sellers. What we saw last week was very much that, with sellers leaning into rallies and just at this moment it looks like we have a repeat of that in early trading today. Earlier the DAX rose to a session high at 18,141. It is now tracking back to below 18,075 as that early session rebound seems to blow out. So, now it is a question of whether or not there is going to be another attempt on the topside, or those sellers will look at unravelling all the early gains today. We shall see as the price action further unfolds