Lucas: Temporary recovery on the DAX

Steve Lucas from 3c Analysis is focused on the DAX Index as technical indicators signal bearish exhaustion in the market. Buyers returned to the DAX yesterday close to the 38% pullback level of the 2015 gains, which helped the index to recover from its initial 200 point loss. This sharp recovery created a daily hammer, which as Steve points out is an indicator of bearish exhaustion. Recent positive manufacturing data shifted sentiment in the market. The Markit Germany Manufacturing Purchasing Manager