Automatic wave scan: as of 6 Nov 2026, the automatic daily count for DAX is Wave 5 up with a bullish bias. The count stays valid while price holds 25,014.
Current DAX wave count
Automatic wave scan Updated daily from the latest daily close (5 Nov 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 5, the final leg of a five wave advance that began at 24,832 on 1 Oct 2026. Next levels to watch are 26,826 and 26,992. The count fails on a daily close below 25,014.
Key levels
| Type | Levels |
|---|---|
| Resistance | 26 · 619 |
| Support | 25 · 014 · 25 · 706 |
| Invalidation | 25,014 |
What is DAX?
The DAX was launched on 1 July 1988 with a base value of 1,000. It grew from 30 to 40 companies in September 2021. It is run by Qontigo, part of Deutsche Börse.
The DAX is a total return index, which means dividends are added back into the index value. This is different from most US indices and can make the DAX look stronger over long periods.
What moves the DAX price?
- German industry: Car makers, chemicals and machinery firms make up a large share.
- ECB policy: Euro area rates affect valuations.
- Global trade and China: Many DAX firms export heavily.
- Energy prices: Higher gas prices hurt German industry.
- Euro exchange rate: A weaker euro helps exporters.
How DAX moves in Elliott Wave terms
The DAX often moves in step with US indices but with its own wave rhythm. Its 2022 low and the strong rally that followed are good examples of a five-wave recovery.
DAX futures trade from early morning to late evening Frankfurt time, so its intraday waves are clearer than many other indices.
Tips for counting DAX waves
Compare with the S&P 500 and EUR/USD. Watch German business surveys such as the Ifo index.
DAX key facts
DAX Elliott Wave FAQ
How many companies are in the DAX?
40, after the index grew from 30 in September 2021.
Why does the DAX include dividends?
The DAX is a performance index that reinvests dividends, so its value reflects total return.
What moves the DAX most?
German industry, global trade, ECB policy and energy prices.
Sources and further reading
- DAX index (STOXX / Qontigo)
- DAX (Wikipedia)
- Monetary policy decisions (European Central Bank)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
