September weakness on the stock market: Dax continues to give way

Dusseldorf. September has so far lived up to its reputation as a statistically bad month for the stock markets. The Dax was trading at 25,861 points in the middle of the week, 0.4 percent in the red.

Since the beginning of the week, the leading index has fallen by more than one percent every day. This is the first time in more than eight weeks that the benchmark index has lost this much on consecutive days, data from LSEG shows.

These also reveal that the trading volume was low yesterday, Tuesday. Less than 50 million papers changed hands. On Monday there were more than 80 million transactions. Overall, the leading index has lost more than 600 points since last Friday.

The leading index is now gradually moving away from the 26,000 point mark. “It will now be exciting and potentially groundbreaking to see how investors react to falling below the psychologically important thousand mark,” writes Thomas Altmann, portfolio manager at QC Markets.

However, it turns out that the leading index is still above the 200-day line. This shows the long-term trend by depicting the average closing price of the past 200 days. The line runs at 24,630 points.