Market sentiment: “upside down world”

Now private investors have also hit the bear side with the professionals, which could be useful for the market.

Professional investors have shown little reaction to the slight drop in the DAX since last Wednesday. At -26 points, the sentiment index of this group of investors is still deeply pessimistic and the majority of medium-term oriented investors are on the short side. According to Joachim Goldberg, the price losses over the course of the course were not high enough to get these players out of their imbalance without major losses. The situation is different for private investors, of whom 13 percent sold shares (“profit-taking”) and 11 percent switched to the short side. The sentiment index is also bearish at -28 points.

The behavioral economist suspects that both groups of investors are now waiting for negative surprises and the associated falling share prices. Initial demand at the bottom is expected at 12,300 and 12,400 points. And on the top when the July high is exceeded with 13,315 in the form of bear traps.

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