Market sentiment: “Paying tribute to reality”

Once again, foreign investors in particular are carrying the market, slowly infecting local ones. Not a good sign, thinks Joachim Goldberg.

This time, the pessimists among the medium-term oriented local investors showed a decline in their stamina. 6 percent of professional and 14 percent of private investors have closed their short positions since last Wednesday and 9 percent of private investors have also bought shares. Since these are not so important, for Joachim Goldberg it was mainly international investors who pushed prices up, namely by 135 points in rather quiet trading.

According to the behavioral economist, there is a change of heart behind the movement in the form of slowly burgeoning economic pessimism. But that is not really good news for the DAX. There is now no support at the bottom. If optimism continues to rise, one would slowly have to start worrying about the DAX.

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