The DAX had a strong showing for the Thursday session as we bounced off of the 7675 level again. This area looks very supportive, and as a result it would be very difficult to sell this market right now. In fact, it looks like a market that is trying to go sideways in order to collect it’s breath before going higher. With that being the case, we are very bullish of the DAX, and are more than willing to start buying above the €7775 level. As soon as we get a daily close above that level, we would be long yet again.