Dax: “Most-hated Rally” still intact – highly interesting correlation!

Is the “most hated rally” at Dax, Dow and Co. over yet? According to Jochen Stanzl of CMC Markets, it is still intact in the Dax, even if prices have come back in the last three weeks. Stanzl points to a highly interesting correlation. On June 8th, he said that the low point in new corona infections in the USA had been reached. This was also the high point in the S&P 500. Since then, prices have been falling and the number of infections in the USA has been rising steadily.

Important chart marks at Dax and S&P 500

So, if you go after that… could the Dax, Dow, S&P 500 and Nasdaq continue to fall because corona numbers in the US are currently getting worse every day? Jochen Stanzl, however, still believes that the rally is currently still intact. But he also mentions important technical chart marks that need to be held in order to maintain the upward trend. In the S&P 500 this is the mark of 2,936 points, and in the Dax this mark is 11,588 points. Watch his interesting comments in the following (german) video.

Attention at Wirecard

It is probably clear to everyone that Wirecard shares are now nothing more than a gambling paper following the filing for insolvency and the brutal fall in share prices over the past few days. Just look at today’s gigantic increase in the share price from a percentage point of view! (see here) But Jochen Stanzl points out here that the share could even disappear from the stock exchange list because a delisting is possible.

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