Market Analysis
Current Price Development
- DAX Close: approx. 24,038 points (XETRA)
- Pre-Market: approx. 24,266 points
- Resistance: Between 24,340 and 24,662 points
- Support: Between 23,832 and about 23,476 points
Market Sentiment
Although short-term upward trends are still intact, the downward momentum has intensified in recent days, indicating a possible topping pattern. The markets are reacting nervously: The VDAX-NEW (Volatility Index) is significantly elevated at around 20.47 to 20.48 – a sign of increased uncertainty among investors.
Influencing Factors
1. NVIDIA Numbers
NVIDIA released strong quarterly figures, which is generally considered a positive impulse for tech stocks worldwide.
2. US-EU Trade Conflict
The US government delayed an impending decision to raise tariffs on European goods by one day; the new deadline is now July 9. This provided temporary relief in the markets.
3. International Events
Other factors such as the expiration of the China-US tariff moratorium and important economic dates in Europe and the USA negatively affected sentiment or neutralized positive impulses.
Technical Analysis
The DAX remains in a mid-term upward trend:
- Lower Trend Limit: At about 23,784 to March highs of about 23,476 points.
- Upper Target Marks: Above the previous record high of approx. 24,325, the next major price target is about 24,566 points.
A pullback to the lower trend limit would not be technically unusual; only a break below this level would signal further risks of loss.
Implications for Private Investors
- Volatility remains high. The nervousness in the markets is reflected in the VDAX-NEW.
- Technical supports are important. Falling below key support levels could trigger further corrections.
- Positive news is currently less strongly rewarded. Despite good corporate news such as from NVIDIA, there may be profit-taking.
“Although all upward trends of short to medium-term nature are still completely intact, the downward momentum has noticeably weakened in recent days.”
— Wallstreet Online on the DAX on Thursday
Conclusion
Despite strong corporate news from the technology sector and a temporary relaxation in the trade dispute, the DAX could not reach a new record high and fell below the important mark. For private investors, this means that the markets continue to show high volatility, and technical levels should be monitored to be prepared for possible further corrections.