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DAX fills the price gap as Euro gains on hawkish Lagarde

The DAX has finally filled the gap it left open at the start of trading today, at 16,837. Granted it has been a grind lower and it needed a firmer Euro and hawkish rhetoric from the ECB boss to deliver it, but it has now made that technical move. You were all warned about that prospect a few times earlier today, once the DAX started to back track from just above 17k. In fact also before that, as it went towards that record high. So, now I can say I told you so, but that is of no consequence, unless it has helped anyone in some way. So, where to next then? Well much will depend on how the US markets fare any minute, when they reopen. The Dow is off the boil now, but still priced to reopen above 37,250, so we shall see it that does the same as the DAX today. The German index is just now trading at 16,825 

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