German DAX falls for the 1st time in 5 trading days
The European stock markets are coming to a close and the major indices are closing with declines and near session lows.
The German DAX was the big winner this week, but fell for the 1st time in 5 days today. The Spanish Ibex was the weakest today.
A look at the provisional closes shows:
- German DAX, -0.21%
- France CAC, -0.45%
- UK's FTSE 100, -0.45%
- Spain's Ibex, -1.3%
- Italy's FTSE MIB, -0.2%
For the week, the German DAX outperformed with a near 4% gain:
- German DAX, +3.94%
- France's CAC, +0.33%
- UK's FTSE 100, -0.32%
- Spain's Ibex, -0.24%
- Italy's FTSE MIB, +1.2%
The German DAX is the only major index in Europe with gains this year. It is currently up around 3%:
- German DAX, +3.09%
- France's CAC, -7.26%
- UK's FTSE 100 -13.44%
- Spain's Ibex, -16.35%
- Italy's FTSE MIB, -7.02%
Technically, the German DAX reached a high price today of 13774.45. That was just short of the February high price of 13795.24. The price has been above its 150 day moving average since November 9 (blue and white lines in the chart below). The index on Tuesday closed above the closing level for the year at 13249.01. On Wednesday the price broke above the September and early December high near 13460.46. Staying above that level would keep the buyers more in control.
