Dax Pullback

N

no-problem

Dax is very on very strong uptrend. Once in a while its pullback just little and go up again. I am just wonder How far it can go without pulling back significantly. I do not know but I think may be germnay's or europe economy is exploding thats why every body is buying dax instead of taking profit since long. It seems we are over due for pullback at least to 50dma. Macd is exhausted and RSI is almost around 70. Here is a chart for further explaination. Or may be we keep going for more 200-300 points. What is your input please?

http://stockcharts.com/h-sc/ui
 
I think the Dax is approaching a LT resistance with the 61.8% retracement of the 2000-2003 bear market. Because of the weak momentum a lot of people may be trying to pick a top which is a supportive factor. Sector-wise the banks and utilities are going ballistic++
 
It depends on the method used to link the past contracts - the Dax cash hit an all-time high of 8136.16 in March 2000 (source: Bloomberg)++
 
Quote from Vince1:

It depends on the method used to link the past contracts - the Dax cash hit an all-time of 8136.16 in March 2000 (source: Bloomberg)++
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Thank you for your prompt response.
 
Quote from FuturesTrader71:

I meant do you daytrade? Invest? How long do you hold positions for?
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I day trade ym, er2 and sgxnk but I swing trade on dax. It used to be good when they had shorter hours than USA and were closing 2 hours before us closed. I try to catch extreme move either up or bottom and hold for 100-150 points if I can get it. My stop price is 25-40 points opposite way. Sometimes it takes 2-3 days to 15-20 days depending on situation. I am still watching to go short on dax but it is making higher high every day.
 
Today again when dow was 50 points down Dax was only couple of points down after going down more than 30 points. This is the strength which prevent me to short at the top now.
 
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