DAX set to open lower this morning following technically negative close

Yesterday the DAX came very close to reaching the 19k level for the first time ever. In the event though it stalled just short of a new record above that level. The DAX peaked at 18,990. The reversal that followed saw it drop back to a low at 18,728. The index later closed at 18,747, with a loss of 183 points on the day. So, given the record opening seen yesterday, at 18,979 and the close set the day before, at 18,930, the index set in place a major outside day reversal, from what was a new all time high. Look, we have seen this happen before, without necessarily following through, but that technically negative close simply cannot be ignored and for that reason the markets have perhaps pushed the DAX futures lower again today. Naturally, the price action across the Asian markets and heavy losses stateside last night are a major factor to consider too. At the same time many updates here have questioned the sustainability of this record run for the German stock market, given the really poor economic backdrop. So, the DAX is set to open lower this morning, right now just above 18,500