Market Outlook: DAX Long Term - Bearish

The Dax has been the strongest of the European stock markets and is the only one to emulate the dynamism of the S&P 500 (to a large degree!) However the party is now over and the high in place at 13700 is the pivot point. Below which we are bearish and expect prices to decline to 10200 and 8000 and possibly as low as 6000 when the western debt crisis hits.