Global stock market investors are very cautious in March 2017 about their stock market investments. Why? Because leading indexes arrived at critical price levels.

As said in the past, it is only a minority of 10 to 20 percent of prices on a chart that do matter. The vast majority of price points has no meaning to investors, certainly not important in decision making. March 2017 is a very important month because leading stock markets arrrive in a price range that we categorize as top 1 percent importance on the long term charts.

Very recently, InvestingHaven published this article in which its research team argues that the DAX as a leading stock market is near a hugely important price level. That comes on top of the observation that 5 leading markets are at major inflection points (including dollar, gold, crude oil, copper).

Meantime, the DAX, a bellwether of global stock markets, has continued its rise. It is now inches away from all-time highs. This is major news of course. The fact that mainstream financial media is not talking about this underlines the high level of importance.

At this point, the DAX stock market index can do two things. Either it breaks out, which would be a hugely bullish signal for global stock markets. The bearish side of things is that it puts a double top, and stocks go (significantly) lower from here.

The key price level to watch is 12,250 points. How the DAX ‘behaves’ around that price level is of the highest importance to global stock market investors and stock market indexes.