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DAX ignores the sluggish German economy as it sets new records above 17,425

When noting the new records for the Dow Jones and the S+P 500 indexes this afternoon, it would be remiss not to mention we have records being broken here in Europe too. Most especially that concerns the CAC 40, almost reaching the 8,000 level and the DAX rising above 17,400. The data released earlier today from France certainly endorses the move more than it does for Germany.  French PMI data is currently expanding, where the German equivalent is heading in the opposite direction. Well, the DAX does not seem to care much about that right now, as it rose just above 17,425 for the first time ever today (17,429 the record cash high). It is backing off now, but not by that much yet. So, is this overdone or out of place? Well, fundamentally, it seems so, but technically it is not critically overbought yet, even at these record levels. The index is just now trading around 17,385
 

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