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Still no traction in Europe as DAX dips below 16,700

The reopened today officially at 16,780. That was pretty much the high of the day, after the index peaked at 16,783. It has been edging lower all morning so far and just now it has dipped below 16,700. The index had closed last night at 16,708. So, it is below that closing level just now. Elsewhere there has been a similar lack of traction in the FTSE 100 and the CAC 40. The Dow Jones futures are still in the red too, but the Nasdaq 100 continues to defy those other moves, as it is still pricing a higher opening for this afternoon. The DAX is just now trading at 16,698 

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