Neighbours in recession and seeking debt relief, annual GDP growth around 0.5% pa, unemployment at 6.8% - hardly sounds like the makings of an all time high in the share market. Yet the Germany 30, based on the DAX, hit another record level last week.
Here's the daily chart:
Monday's leap on opening means all of last week's action is isolated - above the gap. Not all instruments "gap fill" - come back in price and cover the territory where prices previously jumped or plummeted. Indices are in general terms more likely to fill any previous price gaps. This may offer (bearish) traders a clean short entry.
I'm getting ready ahead of time with a "stop entry" order: