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DAX futures indicate a sharply lower opening this morning
The DAX was the worst of the European stock markets by the close yesterday, but the losses were slight. Well, it looks like the index is in for a rude awakening this morning, given the slide in the Nikkei 225 and the heavy falls in the Nasdaq 100 futures. The DAX closed just 84 points lower yesterday, at 24,915.
The DAX traded as low as 24,696 yesterday and right now the index is priced to reopen below that low. It has been priced to open as low as 24,610 this morning. The daily charts suggest it may not stop there and given the overall risk dynamic right now this morning we remain highly cautious on the outlook when live trading resumes later this morning. The DAX is currently priced to kick-off the final session of the week around 24,660
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