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DAX set for a modestly higher opening this morning

This time yesterday morning the DAX was potentially poised to rise above 18,600 today. Of course the European markets were not open yesterday and since then the US stock markets have balked to some degree following the release of the ISM data yesterday afternoon. The DAX closed out Q1 last week with at a record weekly, monthly and quarterly close, at 18,492. The outlook for the opening this morning is certainly less ebullient than it might have been and right now the index is just about set to open higher a little later. However, it is by no means certain to extend on that and it also remains to be seen just how the index will fare in the second quarter of the year. Can it replicate the gains seen in Q1? Well,  that remains to be seen, but it would surely be a tall order immediately right now, given its current technically overbought position, but we are talking about a 3 month period here. The DAX is just now set to kick off Q2 at around 18,525

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