DOW and DAX update

dow 19 dec 2012dax dec 19 2012

So, so far no banana, but as we pointed out earlier, this market will do anything to push the stocks up. This time it is Japan promising more stimulus , Greece  buying back debt at 31 cents on the dollar, Germany having its confidence factor that reached a 2 1/2 year low suddenly charging the other way and the fiscal cliff fatiguing everybody.

The Dow is hitting the lower line and perhaps had not yet completed the a-b-c as the c lacked the 5th wave. The Dax similarly is right up there completing its C wave. Stay tuned.