Europe's Bull Looks Better Than It Trades

Mighty DAX, really?

DAX is down around 4% from ATHs. The index is trading at the same levels we traded at in early March. Major supports are coming up slightly lower, around the 23200 area (futures). Note the 50 day just below that support area. DAX is loved by many these days, but the perceived bull is stronger than the realized, at least since March.