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DAX unable to rally so far this morning

The DAX is making heavy going so far this morning. The index reopened lower today, at 16,667, after closing yesterday at 16,733. An earlier attempt to rebound back above 16,700 (16,694 the high) has since blown out and it has now dropped back close to 16,625 a short while ago. It is trying to rebound right now though, but overall the price action remains in the red despite rebounds for the US equity futures being still in play, although those are off their best levels now. The lack of traction so far this morning for the DAX is all about further profit-taking and there is not much in the way of any fresh dynamic news to be driving this. The DAX is currently trading at 16,642

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