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German DAX Shows Clear Signs of Turnaround

German DAX Shows Clear Signs of Turnaround

David Rodriguez, Head of Product


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German DAX– A notable shift in retail trader positioning suggests that the German DAX may continue higher through near-term trading. It was only last week when we pointed to extremely one-sided crowd sentiment as a key reason the GER30, which tracks the German DAX, would continue onto fresh lows. At the time, retail open positions in the GER30 contract showed 2.5 longs for every short. Since last week, however, retail short positions have risen nearly 50 percent as the DAX rallied sharply off of recent lows.

A sustained shift towards crowd selling would leave us with a firmly bullish trading bias.

See next currency section: S&P - S&P 500 is a Buy until this Changes

--- Written by David Rodriguez, Quantitative Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.