German DAX Meets Our 9400 Upside Target
Posted on: Monday, December 2nd, 2013
The German DAX Index met our 9400 initial downside target on Friday, first mentioned in our January 2nd Keys To This Week, yesterday, to capture a 21% advance in 11 months.
We have been particularly interested in the DAX this year because of its tight and stable positive correlation to the S&P 5oo at various intervals since 1990, most recently 97% since October.
During the same 11-month period, the S&P 500 has risen by 24%.
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