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DAX rejects a new all time high on Friday-futures get a lift from Asia today

As covered here in a number of updates on Friday, the DAX came to within an inch of setting a new all time high. In the event it could not quite manage it and topped out just 1 point below the 18,039 record it set the day before. The later drop back from a high at 18,038 on Friday did actually deliver a lower daily close. The prospect of that happening was highlighted here ahead of the weekly close. So, the technically negative outside day reversal set in place on Thursday (from a new all time high), did deliver a lower close on Friday, albeit by a slender margin. The DAX closed just 5 points lower, at 17,936. Consequently, the technically negative set up from Thursday remains active at the start of this week. So, now we shall have to see just what that might deliver in terms of a further southbound corrective move. One thing to note here too, was the massive volume seen on Friday, at its highest this year. However, overnight the DAX futures have rebounded led gains in the Asian markets and the Nikkei 225. That has seen the DAX priced to reopen above 18k earlier today. Right now the DAX is priced to open at around 17,995

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