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DAX steps back from new opening high
The DAX opened today at 19,634 and that was a new record opening level for the index. It had closed last night at 19,531 and reached an immediate session high, at 19,643. However, it has now stepped back from that high after rejecting a new all time record high, above 19,674. The move lower comes as the FTSE 100 also steps back from an opening move above 8,325. The CAC 40 is now lower too, dropping back towards 7,575. So, the initial higher opening across all these markets has run into selling, but the question; is this just a wave lower before another push on the topside, or have we seen the top of the shop already today? All to play out it seems. The DAX is currently trading at 19,575
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