DAX dropped to test the previous low as expected. I think both DAX and SPX will rebound today. Need to be careful though since I did not see any good supports close on DAX below this level.

Please note that this DAX support level is not strong and that the possible rebound today is purely based on my feelings. Todays early macros could have much impact, also media is trying to blow and remind us about the euro crisis. No news is usually good news and I do not tend to “care” about the media. However, a rising dollar would not be bullish for SPX and thus USD/-currency pair/s should be monitored.

DAX 60min chart

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