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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.

Dots

* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

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Monday, March 07, 2022

Major Trend Divergences On DAX and EUFN

Do you notice something odd about the long-term trends of Germany's DAX with EUFN, Europe's MSCI Financials ETF?

While the DAX has been in a long-term uptrend, the EUFN has been in a volatile and whippy general downtrend, as highlighted by their respective channels depicted on the following monthly comparison chart below.

Whether that variance can continue in the coming weeks is debatable and whether that is a warning of further weakness for the DAX and other European indices remains to be seen...but worth tracking, as is the SPX relative to the DAX, about which I wrote in my post of March 4.

Even the EUR/USD is signalling further weakness...perhaps taking the EURO to parity, or lower...especially if the ECB does not raise interest rates at their upcoming meeting on March 10 this week.