Dow, Nasdaq, and DAX range-bound at the highs
Holidays and a lack of fresh news kept the movement relatively limiting ahead of possible trade news this week.

Dow Technical analysis, overview, strategies, and levels
All three indices in the report continue to show signs of stalling in their bull trend technical overviews, and in this case finishing slightly higher for the session after a brief drop intraday. The range-bound session wasn’t a surprise given the US holiday, though with the US president speaking tonight and trade in significant focus, breakout strategies may be more enticing over reversal or fading ones should it be accompanied by any significant trade news.

IG client and CoT sentiment for Dow
Retail bias is little changed from yesterday’s extreme long 79% bias, awaiting retracement back down given that nearly of those shorts were initiated at lower price levels.

Dow chart with retail and institutional sentiment

Nasdaq Technical analysis, overview, strategies, and levels
As with the Dow, the tech index’s technical overview remains a stalling bull trend on both the daily and weekly levels, with nearly all its main technical indicators continuing to flash green. However, unlike the Dow, the session finished slightly in the red but not that far off its recent record highs. Its bull trend line remains intact but gains intraday (and intraweek) have remained limiting and offering few decent breakout opportunities thus far.

IG client and CoT sentiment for Nasdaq
Retail bias here has also dropped slightly, but it too remains in extreme short territories at 77%.

Nasdaq chart with retail and institutional sentiment

Dax Technical analysis, overview, strategies, and levels
While the German DAX suffered yesterday, it has managed to stage somewhat of a recovery, no doubt buoyed by reports suggesting that the US president will announce a delay in this tariff decision on European autos and parts imported from the EU potentially for another six months. That should aid auto and parts makers that are part of this index, though the gains would be limiting until those reports are confirmed. German ZEW figures will also be released today, though are expected to continue contracting even if it shows improvement on last month’s -22.8 reading. From a technical standpoint, its bull trend line remains intact, but where any gains have been done in a limiting fashion.

IG client and CoT sentiment for DAX
Retail bias has dropped a percent but remains at extreme short territories at 81%, needing a far larger retracement for that short bias to drop and shorts initiated at lower price levels to take profit.

DAX chart with retail and institutional sentiment

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