DAX out in front once more

The DAX was once again the best performing major European stock market yesterday and it did overcome an afternoon relapse that saw it fall back into the US opening, when it dropped from 22,455 to 22,319. However, it did not fall below a technical support level, at 22,299. The rebound from there into the close saw it later end the session with a gain of 154 points. The index closed at 22,425- its highest close since the fall to 18,489. The futures are higher just now this morning, where the likes of the FTSE 100 and the CAC 40 are slightly in the red this morning. So, as the month-end looms ever closer it looks like the index is still leading the rebounds, not just for the European markets, but out in front of the US gains too. Today is there final trading day of the month though and that might lead to profit-taking at some stage, remembering the DAX has closed higher on 8 out of the last 10 trading days. We shall see as the morning unfolds. The DAX is right now priced to reopen around 22,490