According to early exit polls, Angela Merkel’s ruling coalition in Germany won 42% of the vote. It will indeed be interesting to see how the resurgent European bourses react.
Looking at the benchmark Frankfurt DAX on a multi-decade timeframe, first below, we can see the recent surge to new highs. Pretty much the only way this ends badly is if we are looking at a vicious bull trap on these highs. On the second chart below, of the daily timeframe, there is a slight RSI divergence to these highs versus the May highs. However, that is not enough evidence yet to declare this a big bull trap.
EWG is the main, liquid country ETF for Germany.
For reference, courtesy of The PPT algorithm here is a good list of German ADR’s trading in America:
No. Ticker Country 1 AIXG GM 2 BDD GM 3 DB GM 4 DGZ GM 5 DYY GM 6 FMS GM 7 OLO GM 8 SAP GM 9 SGG GM 10 SI GM 11 SZO GM
____________________________________________________
____________________________________________________
OLO Bro!!
Haha nice!