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DAX sets a technically negative close down from a new all time high
Yesterday the European stock markets were not one-dimensional in terms of their closing levels. Whilst the CAC 40 and the FTSE 100 made progress, it was not the same story for the DAX. The German benchmark was the only one of the three to post a lower close on the day. The DAX handed back 38 points, to close at 20,345. However, that modest 0.19% loss came after the index had opened earlier at a record 20,461. So, as noted at the time, that opening was the top of the shop for the DAX yesterday and the subsequent lower close meant the index did set in place an outside day reversal. Hence, a technically negative close for the DAX and from a record high as well. So, that might be important, but we shall have to see how this plays out today. Right now the markets are pricing a lower opening shortly, currently at around 20,300
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