Dax … Daily Chart
The bigger view shows that we are chartwise clinging to the “last” uptrend … the shortest one … starting in July 2007 …
Copyright by Tradestation
After already breaking the more important uptrends (2003 and 2006) … we are at the moment creating a “M-Formation” reversal pattern within a still possible flag formation …
BUT … if we manage to turn around and break the upper flagline one could even say that then we have an inverse SHS-pattern … this explains the high volatility sideways movement of the market after the strong upmove since 2003 …
Were it tennis … you would say advantage BEARS 
November 25th, 2007 at 19:49
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