In summary, the DAX (Germany) Elliott Wave Analysis on the daily chart highlights that the market is in an impulsive trend phase, specifically in orange wave 5 of navy blue wave 3.

S&P 500 didn‘t maintain Tuesday‘s high close, and neither did Nasdaq – both put in a series of failed premarket relief attempts with altogether three intraday upswings from Thursday‘s panic lows – yet these failed as well.

A sustained breakout can have massive repercussions, as this may be a signal that bond vigilantes are finally demanding higher yields in the face of soaring federal debt/interest payments.