DAX futures on the front foot this morning

As noted here in the previous update, there appeared to be a degree of rotation out of the CAC and into the DAX yesterday. The German stock market index rose to a session high at 18,724, but it was unable to hold all of that gain into the close. The DAX still made progress on the day though, closing higher by 64 points, at 18,681. The index futures are higher this morning and currently indicatiing a reopening above 18,700. At this point the reader is again reminded of the all-time record high set for the index earlier this year, at 18,892. So, as you can see, with the index set to reopen above 18,700 this morning, that record is very much on the radar again today. That said, the economic news still emanating from German is really poor, which does make one beg the question- what the heck is the index doing up here in the first place? That question will remain unaswered here though. The DAX is currently priced to reopen shortly at around 18,715