The DAX has a bullish moving average crossover underway and looks like it will keep headed upwards to push though the 12332 resistance zone. This will reinforce confidence and make New York’s work easier. We are long the index looking to take some profits out at the 12305, 12340 levels with protective stops at 12203 – 12160. These trades are for the very short term only. This clutching on to current prices without falling has not been going on long enough to take positions out too far. Hourly end of day maximum.