Catalysts & Headlines (CET)
US claims and Philly Fed impulse
The labour and manufacturing prints shape the Wall Street handover and can quickly shift appetite for European cyclicals.
14:30
US flash PMI
A softer services reading would pressure yields but may also test confidence after the DAX gap higher.
15:45
BoE Governor Bailey remarks
Sterling-rate guidance can spill into European banks and bond-sensitive sectors late in the session.
17:00
Economic Calendar (CET)
09:15FRFrench Flash Manufacturing PMIMed
09:15FRFrench Flash Services PMIMed
09:30DEGerman Flash Manufacturing PMIMed
09:30DEGerman Flash Services PMIMed
10:30GBFlash Manufacturing PMIMed
10:30GBFlash Services PMIMed
14:30USPhilly Fed Manufacturing IndexMed
14:30USUnemployment ClaimsMed
15:45USFlash Manufacturing PMIMed
15:45USFlash Services PMIMed
17:00GBBOE Gov Bailey SpeaksHigh
Key Levels — DAX
| Level | Price | Type |
|---|---|---|
| R3 | 25140 | Resistance |
| R2 | 24890 | Resistance |
| R1 | 24710 | Resistance |
| POC | 24620 | POC |
| Pivot | 24550 | Pivot |
| S1 | 24425 | Support |
| S2 | 24280 | Support |
| S3 | 24081 | Support |
Overnight Session
DAX Pre-Market
24593
512
EURO STOXX 50
5945
-31
VIX
17.72
0.28
10Y Yield
4.613
0.041
EUR-USD
1.1598
-0.0009
Brent
107.35
2.33
Market Context
Overall market mood (0–100). Higher = more bullish. Lower = more bearish. Green = risk-on. Red = risk-off. Amber = mixed.
DAX Sentiment58/100
Options put/call balance (0–100). Higher = more puts, more hedging/fear. Lower = complacency. Green = low hedging. Red = heavy protection. Amber = balanced.
Put-Call51/100
VIX futures curve shape (0–100). Higher = steeper contango, calmer outlook. Lower = flatter or backwardated, stress rising. Green = calm. Red = elevated hedging demand. Amber = neutral.
VIX Term Structure46/100
Eurozone implied volatility score (0–100). Computed from VSTOXX level: VSTOXX<=18 -> ~100 (calm); VSTOXX>=30 -> ~0 (stress). Green = calm/risk-on, supports bullish bias on DAX. Red = stressed, bearish for DAX. Amber = mid.
VSTOXX35.46 / elevated
DAX 40 breadth (0–100). Higher = broad participation, healthy rally. Lower = narrow leadership, rotation risk. Green = strong breadth. Red = weak breadth. Amber = mixed.
Breadth48/100
Session Playbook
Bull Case
| Order | Buy Limit |
| Entry | 24538-24562 |
| Stop | 24425 |
| TP1 | 24710 |
| TP2 | 24890 |
Dip-buy the pivot only if 24550 holds; 24710 is first supply and 24890 the high-zone extension.
Bear Case
| Order | Sell Stop |
| Entry | 24538-24562 |
| Stop | 24710 |
| TP1 | 24280 |
| TP2 | 24081 |
Break below 24550 exposes trapped longs; elevated European volatility keeps downside tails in play.
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