As with US equities. Mid-December is key for the DAX market as well. Downward pressures amid the seemingly omnipresent bullishness surrounding the Santa Claus rally have not only appeared for equities and bonds as we have projected on these pages, but also for the DAX. The DAX is likely entering a much stronger downplays than the US equity markets in that initial phase appears to have kicked off, which will you yield to some sort of bounce towards the end of January. Downward pressures. Overall next year for the DAX appeared much stronger and persistent then for the US markets. In the meantime. As with the US markets they bounce into Christmas from the middle December likely. However, diverging from the US markets be aware that there is significant potential for a very weak last week of the year.