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Indeed - but only if drop and recover is for more than 1 day. That was only a intraday move.
Other signs for lower lows:
30m blocked by upper KUMO
1h has strong down Kumo ahead
daily dito
Today the hi/lo during cash hour (not finished yet) is 211 points.
This means tomorrow no trade (anyway).
But a Walzer is ahead - I will be on alert and take a Walzer if there is a signal.
..but my warning from Tuesday had even been more worse:
Dax started with a large gap down @ 11545
IB 9:00 to 9:30 hi/lo 90 points (a Walzer quite possible)
A recovery is necessary but seems not durable.
At the moment there is a large field of lower numbers in the indices.
Until the end of the year and first two months 2019 the upper trend is
SHORT.
Looks like we see another red week again.
The weekly chart shows quite a pattern for this - might turn later.
Bayern poll (Landtag) yesterday was very bad for CSU and a desaster for SPD - means the
Berlin coalition CDU/CSU/SPD gets problems...
In 2 weeks poll in Hessen - same development foreseen.
Why I am telling this: The Dax is very strong connected with the decisions of the parliament(s).
Uncertainty is poison for the stock holders - thus some larger scale selling is the consequence.
ATTENTION: Xetra had tech problems from 9:00 to now.
This means no futures trade could be taken - just floor trading was normal.
Volume was very low for IB - that made it difficult.