When will the Dax Hit the Panic Button? Pre-IFO Charting

One day before the release of the German IFO survey, we bring you this chart combining all of Germanys key business surveys (3 IFOs, 2 ZEWs, 2 PMIs) against the Dax. Hours after Moodys downgraded its credit outlook for Germany, German July manufacturing PMI hit a fresh 3-year low at 43.3, posting its 4th monthly contraction (sub-50). Germanys July services PMI fell to 49.7, posting its 2nd monthly contraction. At what point will the Dax hit the panic button? CLICK HERE: http://www.cityindex.co.uk/market-analysis/ashraf-laidi-blog.aspx