DAX begins to turn lower
The DAX has been selling off since the Tuesday high, with the price hitting a low of 13,224 yesterday.
The ability to break below that level would provide a bearish short-term signal, with the index retracing the 12,742-13,427 rally. Alternatively, should we see a rally through the 13,427 level, it would largely point towards a continuation of the gains we have seen over the past two weeks.
Dow consolidating within reach of record highs
The Dow Jones has moved within close proximity of the 25,440 highs set on Tuesday afternoon.
A break above that level would look towards trendline resistance as the next point of call. As long as the price remains above 25,236, then this consolidation remains a likely precursor to further upside.