The DAX has printed ten consecutive higher highs on the daily chart and now, as we run into a significant high from December, is the rally running out of steam? If so, where can we reasonably expect for prices to pull back to? Let’s start by taking a look in the video below at how many times that has happened in the past. 

The US President has extended the March 1 deadline for the ceasefire with China, but there would be a meeting with the Chinese head of state if further progress was made in the talks. So there will be no new punitive tariffs and that is the main message from what is happening now.

That’s good for the stock markets.

Now all we have to do is pay attention to how much of this positive news has already been priced in. It may well be that we get headwind from this major high I mentioned in the video.

On Wednesday and Thursday, US President Trump will then meet with the North Korean dictator in Hanoi and according to local newspaper reports from South Korea, it could come to this summit for the formal end of war between North and South Korea. Progress here would also been taken positively on the markets.

Code for finding consecutive higher highs

This uses Sierra Charts ‘Color Bar Based On Alert Condition’ study and uses this code in the Alerts tab:

=and(
h[-1]>h[-2],
h[-2]>h[-3],
h[-3]>h[-4],
h[-4]>h[-5],
h[-5]>h[-6],
h[-6]>h[-7],
h[-7]>h[-8],
h[-8]>h[-9]
)

Code for finding consecutive higher highs

This uses Sierra Charts ‘Color Bar Based On Alert Condition’ study and uses this code in the Alerts tab:

=and(l[-1]<l[-22],l[-2]<l[-3],l[-3]<l[-4],l[-4]<l[-5],l[-5]<l[-6],l[-6]<l[-7],l[-7]<l[-8],l[-8]<l[-9])

Dax Key Levels

DAX KEY LEVELS
  CFD
POC :  11461.5
VAH :  11474.0
VAL :  11426.5
VWAP :  11458.3
R2 :  11557.7
S2 :  11348.7
Pivot :  11453.2
High : 11501.5
Low : 11397.0

Dax Analysis Charts

25-02-2019 Dax Technical Analysis 1

25-02-2019 Dax Technical Analysis 2

25-02-2019 Dax Technical Analysis 3