DAX posts a daily close underneath 20k-futures price a lower opening today

Well, it took a while to play out but eventually the DAX set a daily close underneath 20k yesterday. The index was the worst performing major European stock market index, handing back 1.35% by the close. That compared to a 1.22% loss for the CAC 40 and 1.14% for the FTSE 100. The DAX closed 272 points lower, at 19,969, which was close to the session low, at 19,959. To be honest there has been much consternation here lately, as to why the heck the index was above 20k in the first place and so this correction is not at all a surprise to this author. In fact, it is so long overdue it beggars belief. The question is how much further has it got to continue? Well, if we were to take 10% off the top for example that would infer a fall to 18,470, but I doubt we will see that this side of Christmas. Nevertheless, the DAX futures crumbled further into the Asian opening today and implied an opening close to 19,775. The index is currently priced to reopen a bit better than that, just now around 19,845