Deposit Photos A short-term pullback is very possible at this point, but I don’t necessarily think that means anything other than simple profit taking. After all, we have shot straight up in the air for a little over a week now and have gained about 800 euros. So, it does make sense that certain people would be taking profit. Other people might be closing shorts that have been completely blown up, trimming profits a bit and staying long anyway. After all, there’s absolutely nothing on this chart that suggest you should short the DAX anytime soon. Overall, the DAX Will be Noisy but BullishIn general, this is a market that I think continues to be very noisy and bullish, but I don’t necessarily think you can go forever straight up in the air like some people buying here probably are expecting. With that being the case, I remain bullish, and I am looking for dips in order to add to an already existing position. 
I also believe that the DAX will eventually find its way to the 20,000 euro level, mainly as Germany is now exiting a recession and that of course is a huge thing for the stock market itself. Beyond that, the euro is still historically cheap, so exports are still very affordable in other economies. Remember, the DAX is full of export driven companies, so this is a major influence on this index, perhaps more so than many others.More By This Author:GBP/USD Forecast: British Pound Bounces On FridayPairs In Focus This Week – Sunday, May 12DAX Forecast: Powers Higher To Reach New Highs
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