Catalysts & Headlines (CET)

⚡
Xetra opening auction at the upper band
Opening flows decide whether 25946 becomes accepted value or a rejection zone back toward 25799.
09:00
ISM Services PMI
A strong services number can lift yields and pressure equities, while a miss would support dip demand.
16:00
ECB caution meets soft German industry
Rate caution and weak industrial momentum keep autos, chemicals and cyclicals vulnerable into rallies.
08:46

Economic Calendar (CET)

📅
16:00USISM Services PMIHigh

Key Levels — DAX

📐
LevelPriceType
R326278Resistance
R226128Resistance
R125978Resistance
POC25946POC
Pivot25799Pivot
S125754Support
S225604Support
S325440Support

Overnight Session

🌙
DAX Pre-Market
25915
891
EURO STOXX 50
6413
52
VIX
16.15
-0.00
10Y Yield
4.485
0.010
EUR-USD
1.1427
0.0004
Brent
72.12
0.32

Market Context

📊
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
Squeeze, late buyers
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
Balanced, slight hedging
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
Contango, calm
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
Contained but watchful
DAX-40 participation - how broad it is. Colour: green = broad/strong, amber = mixed, red = narrow/weak. Bar = strength of the signal.
Breadth
Narrow, cyclicals lag

Session Playbook

🎯
Bull Case
OrderBuy Limit
Entry25742-25766
Stop25650
TP125879
TP226004
Only a controlled pullback into 25754 earns a long; chasing near highs gives away edge before the US print.
Bear Case
OrderSell Limit
Entry25966-25990
Stop26082
TP125853
TP225728
Fade 25978 if buyers stall; topping conditions and weak cyclicals make failed highs vulnerable.
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