Buying The Dip
Investors were buying the dip – this was at least apparent in the DAX that took out the 15500-handle and surged toward 15900 in a next leg up. Early evidence that omicron cases haven’t overwhelmed hospitals appears to have calmed the markets. Risk assets recovered.
However, there are warnings that buying-the-dip could be too early as turbulences could continue.
DAX
The index stabilized above 15500 and headed toward 15900 in a next move. Whether we will see a test of 16000 depends on investors’ risk appetite but it seems as if there could be further room for the bulls. 16000 is the next bullish target.
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