German Equity Indices Summary for Jul 31, 2020
German Stock Indices Technical Analysis Market Overview Report for Jul 31, 2020 | by Techniquant Editorial Team
With two German Stock Indices closing higher and two closing lower today, the winners of the day are SDAX surging 0.84% and TECDAX gaining 0.42%. On the flipside the worst performers have been DAX closing -0.54% lower and MDAX losing -0.28%.
One of today's most interesting market conditions in the German Stock Indices showed up in DAX: Among the eight market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close crossed below the lower Bollinger Band" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for DAX. Out of 76 times, DAX closed higher 53.95% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 61.84% with an average market move of 0.68%. Read more