DAX德國 DAX

Bullish. The DAX at 25,983 is the steadier one of the European pair right now, still up near the top of its 60-day range even as London wobbles, on a modest but positive session. I'll stay with strength here, though it's leaning on the same global bond-yield backdrop that could turn on any index if yields keep climbing.

Don't let the range score fool you — DAX has slid hard over the past week as German Bund yields spiked to their highest since 2011, dragging Infineon, Rheinmetall and MTU lower with it. I'm fading the quant's bullish read to bearish here; a market this shaken by a rates shock doesn't stabilize in a day.

Sitting on the fence here — the DAX has been one of 2026's strongest tapes and the pullback so far is a mild wobble, but Eurozone bond yields just hit 15-year highs and chip-linked names like ASML are catching the same downdraft hitting US and Asian tech. Too early to say whether this is a dip to buy or the start of something bigger.

DAX remains one of Europe's strongest stories, riding a Stoxx 600 rally to fresh records on the back of red-hot semiconductor names like Infineon. It has cooled off from its very top over the past few sessions, but the broader 60-day uptrend is still firmly in charge.

Bullish - the bid finally showed up, and I am not going to argue with it just to defend a call I have made all week. The DAX rose 0.5% to 26,440.31, snapping a three-session slide and standing out as the one major European index that went anywhere on Friday. I spent three days saying Frankfurt kept failing the test of good news; it passed on the fourth, and a market that reclaims the top of its 60-day range in a single session deserves more benefit of the doubt than my previous opinion does.

Bearish, and Frankfurt has now answered the one test I set it the wrong way. The DAX slipped again to 26,299.74, a third straight lower close, on a session when the S&P printed a record and crude fell back - cheaper energy and cheaper money arriving together is precisely the rescue an industrial index was supposed to be waiting for, and it still could not get off the floor. When the good news lands and the bid does not show up, I trust the tape over the story.