The German DAX has completed its lap from the March 6 high to the April 7 low and back to the March 6 high. We run to the downside was a -21.245% decline

The pair moved above that high at 23475, and in trading today reached a new intraday high price of 23543.27. The price is closing the week at 23489.43 – good enough for a new record high close.

The other major European indices also moved higher. A snapshot of the closing levels and shows:

• German Dax, +136.73 points or 0.59% at 23489.43
• France's CAC. +49.33 points or 0.64% at 7743.76
• UK's FTSE 100 +23.21 points or 0.27% at 8554.81
• Spain's Ibex +65.18 points or 0.48% at 13554.09. The closing level today was the highest closing level going back to June 2008
• Italy's FTSE MIB was 395.69 points or 1.02% at 39370.00. The closing level is approaching the high closing level at 39712.65.

For the trading week, the indices were mixed:

• German Dax, +1.79%
• Francis CAC, -0.34%
• UK's FTSE 100 -0.48%
• Spain's Ibex, +0.80%
• Italy's FTSE MIB +2.72%