Skip to main content
Spotlight

USING THE MONEY FLOW UNIT ANALYSIS TO INDICATE A POTENTIAL TURNING POINT IN THE DAX

By April 19, 2024April 30th, 2024No Comments

This chart of the DAX was taken from our December 19, 2023, Technical Tuesday report sent to our institutional clients.

  • The Money Flow Unit (MFU) 3 and 4 targets were generated off the 2020 base, highlighted in green.
  • The DAX achieved the initial MFU-3 target of 15907 in August of 2021, where it stalled for six months and then corrected.
  • After moving above the MFU-3 area with strong momentum in late 2023, the next leg higher was underway, which led to our next target at the MFU-4 level of 18375, where it then started a pullback.