The DAX ( a total return index!) is hitting a new intermediate high today in celebration of the Bank of Japan’s appointment of a more flexible governor and on the possibility of a ex-communist winning the elections in Italy.
If you look closely at this chart and compare it to either SU or CNQ in the previous blog you might start wondering if these are not German companies. How does SU GMBH and DNQ sound? Simple put, all are on the same trajectory and under EW the direction is down. See also previous blogs for EWG.