Because it is little stormy in here ended to post one chart more.
Since 7:th of this month DAX has been doing 5 higher highs for hourly chart and latest one was done today.
It occured in US hours which is also first time for decades any important swing (waves) ends for non-globex hours. There has been only few sessions so far where swings might end for last hour however in US, while next day Europe takes the actual lead of the swing.
Today was expection in the manner. US finally finished something.
As chart shows middle-europe has been way much stronger for long time as SPX but also breakes for zigzag waves. The current top was 50% retracement from all-time-high for daily chart. Dax is internally still stronger than US market is and this likely should lead for next higher high retracements as 61.8% or even 86.2%.
Major difference for SPX is however that DAX have bullish W3 / W5 divergence behind, with this passed low few weeks back and that is significant difference whean speaking about waves which SPX does not have.
One can watch that as one pattern only, the entire chart.
SPX 1282 might park a bit after todays rally but this is unlikely to do so yet.
If it would consolidate something for this channel low W2 end & new W3 start blow-out would occure later, even for ZigZag.
As bearish alternates, from this very last leg of cource all the next 50% and 61.8% and of cource 78.6% & 86.2% again are something where chart considering the situation should it end IV wave and drop more impulses which makes it park again lower (but leaving higher higs) > but as major picture I think it is preparing for reasonable big C upwave and this will be double or triple ZigZag upside path for few weeks ie. on the way to the most close of 7600.
Next week might come interesting. Particulary is SPX consolidates again from this 1282.
You see price action & candles as reasonable agressive from this low and they have good reason to be.
Overall I threat this index as stonger than SPX or QQQQ or any US index. Particulary tech´s appears to be a bit weak on there which we don´t have even exist much.
I also highlighted the box for any potential consolidation but I don´t think it stays there much actually if any at all but it might think over the weekend – there is a important meeting in Brussel during this weekend.
Additionally testimony for this was that major A was 1.618 size and all B´s are 0.618`s. In fact every single wave in this pattern are all 1.618 and 0.618 between each other.
