(VIANEWS) – DAX PERFORMANCE-INDEX (GDAXI) is currently on bearish momentum. At 11:08 EST on Thursday, 22 September, DAX PERFORMANCE-INDEX (GDAXI) is at 12,566.37, 3.01% down since the last session’s close.

Why is DAX PERFORMANCE-INDEX Index Going Down?

The DAX is a German stock market index that tracks the performance of the largest companies. It is sometimes called the German equivalent of the Dow Jones Industrial Average. But, like the Dow, it does not represent the entire market. It is a capitalisation-weighted index and includes companies with re-invested dividends. The DAX can go up or down by several percent during a trading session.

The DAX has been on a downward trend for much of this week. The S&P 500 was largely flat this week, while the DAX was sagging until the last two trading days. Oversold positions were covered, which explains the recent rise in the DAX. The German economy is in the most vulnerable position, with the exit of Nord Stream 2 having a negative impact on the German economy.

Since September 2013, the DAX has reached record highs. In February, the index reached a high of 13,700. However, after the January 2016 crash, it plunged more than a thousand points. In March, it retraced back to the lows of 9,000. After the crash, the DAX index began a new uptrend and reached over 13,000 in 2017. It continued to rise, and it topped the 13,000 mark in 2017 and 2018. In 2018, it began its descent and closed the year at 10,500. In January 2019, it drifted upward to reclaim the 13,000 level. However, the COVID-19 pandemic brought about a sharp drop in the index.

DAX is a benchmark based on the performance of leading companies in Germany. Its performance is a barometer of the market’s strength and its ability to recover from downturns. When the market is in a bear market, the DAX PERFORMANCE-INDEX index tends to perform poorly.

DAX PERFORMANCE-INDEX Range

About DAX PERFORMANCE-INDEX’s daily highs and lows, it’s 0.36% up from its trailing 7 days low of $12,520.80 and 4.16% down from its trailing 7 days high of $13,111.40.

About DAX PERFORMANCE-INDEX’s yearly highs and lows, it’s 1.42% up from its 52-week low and 22.86% down from its 52-week high.

Volatility

DAX PERFORMANCE-INDEX’s last week, last month’s, and last quarter’s current intraday variation average was a negative 0.15%, a negative 0.31%, and a positive 1.07%, respectively.

DAX PERFORMANCE-INDEX’s highest amplitude of average volatility was 1.75% (last week), 1.27% (last month), and 1.07% (last quarter), respectively.

Index Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, DAX PERFORMANCE-INDEX’s is considered to be overbought (>=80).

News about S&P 500

  • According to FXStreet on Tuesday, 20 September, "Short term Elliott Wave view on SPDR S&P 500 (ticker: SPY) suggests the ETF shows a bearish sequence from 8.17.2022 high favoring further downside. "
  • According to FXStreet on Tuesday, 20 September, "Against this backdrop, the S&P 500 Futures fade the previous day’s bounce off a two-month low around 3,920 whereas the US 10-year and 2-year Treasury yields remain sidelined at the highest levels since April 2011 and October 2007 in that order."
  • According to FXStreet on Tuesday, 20 September, "Amid these plays, the S&P 500 Futures fade the previous day’s bounce off a two-month low around 3,920 whereas the US 10-year and 2-year Treasury yields remain sidelined at the highest levels since April 2011 and October 2007 in that order."
  • According to FXStreet on Tuesday, 20 September, "It should be observed that Wall Street closed positive and helps S&P 500 Futures to print mild gains as traders brace for the full markets. "
  • According to FXStreet on Tuesday, 20 September, "Against this backdrop, the S&P 500 Futures fade the previous day’s bounce off a two-month low around 3,920 whereas the US 10-year and 2-year Treasury yields remain sidelined at the highest levels since April 2011 and October 2007 in that order."

More news about DAX PERFORMANCE-INDEX (GDAXI).

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