A lot of the companies on the dax are large multinational corporations that conduct a great deal of business outside of Germany. German economics have only slightly greater effect on dax companies than they would on SP500 or FTSE 100 companies. A good example of this is Deutsche Telecom. As T-Moblie they have a huge footprint in the USA.
Yeah, right. Only problem is, ''further gains'' nowadays only means more chop! Some macro event needs to happen to blow the crap out of the markets one way or another. Interest rate gimmicks, unless it's a 2 point rise/drop just prolong this ugly chop.
It's not just Germany. Money has been pouring into ex-US for well over a year. CAC40, some of the Scandinavian countries. Pull up a few 2 or 5 year charts at random from Europe. Best performing market in the world today? BEL-20. Up 1.46%. Geo.
Well weren't those conditions that were present right before the start of WW2 and its global ambitions? Maybe the DAX is expecting Germany to take over the world again.
Why were internet stocks going up and up and up??? How could a company planning to sell used condoms be formed one year, float the next without ever selling anything and have a market cap of £20bn as was happening in the late 90s? Not every up move has a fundamental reason, sometimes it's just technical.