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I am not a German, but I worked for Deutsche Bank for 11 years, does
that count?
First of all, I want to point out that I have only recently been
following the DAX closely as I was more on the fixed income side at
Deutsche, so I do not have any long term counts.
Second of all, I do not of good intraday data on the Dax, so I am basing
this on day bars, which can be dangerous.
Now, before I give you my opinion, anybody who says Elliott does not
work on the DAX then cannot believe in Elliott Wave in general. The
basis of Elliott is it is the natural order of things,in essence. To say
it does not work on a market, unless that market is not a free one, is
just plain wrong. It may be a difficult market to chart, and the index
that you probably need to use is the XETRA since the index itself is
barely open all day, but Elliott must work there.
As for my counts, I'd say we did an a-b-c to the 11-Sep low, completed a
small x-wave to the 24-Sep high and now will do another a-b-c down.
Ultimate targets conservatively 3600-3900 and could be worse.
Steve Poser
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