Catalysts & Headlines (CET)

⚡
Xetra open tests the overnight ramp
The first cash flows around the open should show whether the DAX premium can hold above Pivot or mean-revert toward S1.
09:00
Volatility remains the key risk filter
A firmer VIX keeps index longs vulnerable to sharp pullbacks if early strength fails to attract follow-through.
09:30
Wall Street handover sets afternoon tone
US equity direction can decide whether DAX buyers defend Pivot or sellers press the move back into support.
15:30

Economic Calendar (CET)

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Key Levels — DAX

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LevelPriceType
R325445Resistance
R225310Resistance
R125174Resistance
POC25079POC
Pivot25044Pivot
S124914Support
S224743Support
S324570Support

Overnight Session

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DAX Pre-Market
25079
939
EURO STOXX 50
6231
-81
VIX
19.49
3.09
10Y Yield
4.493
-0.016
EUR-USD
1.1370
-0.0057
Brent
76.27
-0.81

Market Context

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Overall DAX risk appetite, estimated from price action and breadth. Colour = the read: green = risk-on/bullish, amber = mixed, red = risk-off/bearish. Bar = how pronounced the reading is.
DAX Sentiment
Firm but conflicted
Index options put/call balance. Heavy puts = hedging/fear; light puts = complacency. Colour: green = light hedging (constructive), amber = balanced, red = heavy protection (defensive). Bar = strength of the signal.
Put-Call
Protection demand rising
Shape of the VIX futures curve (VIX9D vs 30-day VIX), computed from live data. Contango (front below spot) = calm; flat or inverted = near-term fear. Colour: green = calm contango, amber = flat, red = inverted/stress. Bar = stress level.
VIX Term Structure
Flat carry
European equity volatility read (VSTOXX-style; proxied from VIX and price action, since live VSTOXX is unavailable). Colour: green = calm/risk-on (supportive for DAX), amber = mid, red = elevated stress. Bar = strength of the signal.
Euro Vol
Elevated risk premium
DAX-40 participation - how broad it is. Colour: green = broad/strong, amber = mixed, red = narrow/weak. Bar = strength of the signal.
Breadth
Narrow weak internals

Session Playbook

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Bull Case
OrderBuy Limit
Entry25029-25059
Stop24944
TP125164
TP225284
Buy the Pivot retest only if support absorbs selling; upside unlocks through R1 toward R2.
Bear Case
OrderSell Stop
Entry25029-25059
Stop25144
TP124924
TP224804
A clean Pivot failure turns the overnight strength into trapped length, exposing S1 and S2.
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