In the short term, you are more likely than not looking at a “fade the rally” type of market, as there has been so much negative news out there, and it looks very likely to continue to be that way. 

The DAX has fallen during the trading session again during the trading session on Thursday to show signs of weakness yet again, and now it looks as if we are breaking the back of the hammer from the Wednesday session. The DAX is going to have to deal with the German economy potentially imploding, as there are a lot of concerns when it comes to inflation, and of course energy in general. At this point, the market certainly is teetering on something rather ugly, and I think it’s probably only a matter of time before we returned to the €12,500 level.