DAX short after truncated 5th wave lacking strength.

21 May 2020

From the bottom in March an impulsive wave sequence can be counted with a truncated 5th wave at the end. I think we deal with a truncated wave since the last (5th) wave exists of 5 waves which means that we are in the final stages of this trend. Only alternative would be an extension of wave 5 if you ask me. Let's see how this unfolds lads. First target 9.600.

Disclaimer: I have no short position in DE30 but I am short other indices.

22 May 2020

Not

Nice start with almost 200 points since my post. Fun to check this one the coming week. Should be some acceleration incoming if you ask me.

27 May 2020

Not

Well, that escalated quickly! In hindsight: I was too quick labeling my micro wave 4 and we made a new cycle high. RSI remains bearish for now so the bigger picture did not change at all. I still expect a significant retrace somewhere in the coming weeks.