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Independent Analyst
The Dax closed above the upper daily cycle band. this confirms that day 38 hosted the DCL and indicates that it was also the intermediate cycle low.
The Dax has begun to close above the upper daily cycle band to begin a new daily uptrend. It will remain in its daily uptrend until it closes below the lower daily cycle band.
The Dax formed a weekly swing low the previous week and delievered bullish follow through this week to confirm that week 20 hosted the ICL. Since the August weekly low was also a failed weekly cycle that indicates that week 20 also hosted the yearly cycle low.
The DAX is in a weekly uptrend and will continue so until it closes below the lower weekly cycle band.
The DAX printed its lowest point in Aug, following the month 16 peak, which followed a failed weekly cycle. A monthly swing low has formed to signal that month 18 was the yearly cycle low.
The yearly cycle low formed above the upper monthly cycle band indicating the Dax is entering a very bullish trend. The DAX is in a monthly uptrend and will continue until it closes below the lower monthly cycle band.
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