DAX consolidates recent record gains

Yesterday the DAX did not make any further progress, as it seemed to consolidate its recent record gains to above 16,700. The index actually closed a little lower on the day, ending the session 27 points lower, at 16,628. Technically speaking that close was of no detrimental consequence though and above an earlier session low at 16,595. The high seen was set at 16,655 and as things currently stand this morning, the DAX futures are pricing a reopening at, or just above that level. The gains stateside last night have helped the opening outlook, but beyond that, the DAX looks like it is pausing for breath, after reaching that all time record high earlier this week, at 16,727