DAX Reaching for 18k by Month-End?
Considering the recent resilience in European equities, even with some less-than-stellar economic data, it's worth pondering if the DAX has the legs to hit 18,000 by month-end. We've seen a pretty consistent bid on dips, and while $DEFI is a small player at 74.41, the broader sentiment seems to be cautiously optimistic. The path of least resistance still feels upward, barring any major geopolitical shock or a hawkish pivot from the ECB. I'd put the odds of hitting 18,000 by the end of May somewhere around 60%, largely predicated on continued disinflationary signals allowing central banks to maintain their current stance, or at least not surprise with any renewed hawkishness. The alternative, a significant pullback, would likely need a concrete catalyst that isn't currently priced in, as most of the known headwinds are pretty well digested at this point.
It's an interesting thought, especially with how the DAX has held up. I'm wondering if a lot of that resilience is already priced in, or if there's still room to run given the macro picture.