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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

​​Dow rebound continues and DAX pushes back to recent highs​

US markets continue their recovery, while the prospect of a vote on the German stimulus package has bolstered the DAX.

DAX 40 Source: Adobe images

Wall Street

The Wall Street index continued to rebound on Monday, extending Friday's bounce from the six-month lows seen last week.

Continued gains above 42,000, the lows of late December and early January, would open the way to 43,317, the high from late December's short-lived bounce and the mid-October high. A reversal back below 41,000 would suggest a new leg lower has begun.

Wall Street daily chart

Dow Jones chart Source: IG
Dow Jones chart Source: IG

Germany 40

This Germany 40 index has shrugged off the weakness seen last week and has pushed back to the record highs above 23,000.

The index's resilience in the face of US market volatility may now point the way to further gains and new record highs. Whether this can be sustained in the event of an even deeper pullback in US indices remains to be seen. For the moment, any medium term move to the downside would require a drop below the 22,150 area, which marked the lows over the last month.

Germany 40 daily chart

DAX 40 chart Source: IG
DAX 40 chart Source: IG

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