Dusseldorf On the stock market, the pessimists seem to be taking command again. Quotations above 13,000 points like last Friday were only a short episode. Today, Tuesday, the Dax is down another percent and is trading at 12,702 points.

But yesterday’s Monday trading performance wasn’t entirely bad despite the 1.4 percent loss. Because after the daily low of 12,774 points at the start of trading, there was a willingness to buy, which drove the leading index up by 150 points. Only a weak Wall Street spoiled the mood recently.

In view of the current risks such as the unresolved energy issue, delivery problems, the Ukraine war, inflation, geopolitical tensions and the risk of recession, the Dax has so far held up well. As long as the leading index does not fall below the previous year’s low of 12,390 points, a bear market rally is possible at any time within the intact downward trend.