SaxoTV

O'Hare: I'm shorting the Dax and here's why

502 views
September 01, 2015 data, dax, dax 10000, dax 10400, dax 2015, dax 30, dax 8900 level, dax 9000, dax bear, dax bearish, dax bearish momentum, dax bull, dax bullish, dax daily hammer, dax down, dax downward trends, dax falls, dax ftse ratio, dax futures, dax futures levels, dax gains, dax germany, dax germany's dax, dax germany's dax, dax germany's dax, dax index, dax index bearish, dax index bullish, dax index equityies, dax index trands, dax index trend, dax index trends, dax price, dax rally, dax record high, dax support, dax support levels, dax target, dax trading, dax ukraine, dax weakness, dax.l, dax2014, daxdax, daxdaxdax, daxdax¨', eq, eq3, equities, equities 2014, equities over valued, equities prices, equities saxo, equities strength, equities trading, equities v bonds, equity, equity analyst, equity bubble, equity clients, equity correction, equity decline, equity index, equity market, equity market 2014, equity markets, equity platform, equity portfolio, equity portfolios, equity research, equity rise, equity risk premium, equity risk premiums, equity strategy, equity trading, equity us, eu, eur, eur usd, eurgbp, eurjpy, euro, euro area, euro crisis, euro dollar, euro growth, euro rates, euro strength, euro yen, euro zone, eurocrisis, eurodebt, eurodollar, europa, europe, europe growth, european, european banks, european central bank, european central banks, european economy, european recovery, european union, eurozona, eurozone, eurozone crisis, eurozone economy, eurozone inflation, eurozone recovery, eurusd, germany, index, index trading, saxo tv, tradingfloor.com, uefa
Steve O'Hare talks us through his trade in the Dax as equities continue to be dominated by uncertainty surrounding the slow-down in the Chinese economy and the possible timing of a US rate hike.

"We are set for another volatile week with NFP rounding things off on Friday. The Dax ended August with a net loss of over 1000 points equating to nearly 10% and compounds our negative medium term outlook." says Steve. 
 
Despite a positive turnaround last week, Fridays ‘hanging man’ candle is a concern and yesterday’s positive day featured a lower high and low which is negative and has contained the relief rally.

Steve is looking at setting shorts on a pull-back into yesterday’s range, at 10200 

Target: Around the short-term congestion support area near 10000.   

Stop: 10250.