DAX lifts above 21,500 as the dynamic rally continues to levels not seen before

If you were told the technical picture on the DAX could see it extend towards 26k over time, you might think that just daft. Well, this is a re-iteration of a point made about that some weeks back and right now not much has seemingly changed. It is onwards and upwards for the DAX again today, despite the short-term technical picture showing distinct signs of being over-stretched. The index has just now risen above that earlier noted 21,500 handle, rising further into uncharted territory. The index officially reopened today at 21,463 and it has not really traded much below that opening level. The better than forecast German PMI data has also provided a further boost to the index