Sentiment indicator of Deutsche Börse
Market sentiment
Opinions make markets: Every Wednesday, Deutsche Börse surveys the market expectations of active investors and has the results interpreted in accordance with the findings of the behaviour-oriented capital market analysis, Behavioral Finance. The analysis is published here around 4 pm.
Market sentiment analysis as of March 25, 2026: “The DAX and Market Sentiment Are Both on a Roller Coaster Ride”
Since last Wednesday, the DAX has fallen by around 2,000 points. This translates to a 3 percent decline. Joachim Goldberg notes that investor sentiment was particularly poor over the weekend. According to our survey, 3 percent of professional investors have switched from long to short positions. The sentiment index stands at +19 points, which is quite high. Among retail investors, 5 percent sold shares and 8 percent went short. Their sentiment, at +12 points, is slightly lower.
However, the behavioral economist assesses the sentiment as less euphoric when viewed in relative terms. He assumes that the majority of buyers entered the market on Monday and could sell again at even modest price gains, starting at 23,600/650 points. He also sees this group as likely to sell off below 22,000. Overall, behavioral finance offers no silver lining. For that to happen, the news situation would need to stabilize sustainably.
Your opinion counts: Market expectations of investors
All interested investors are invited to participate. It takes only 15 seconds. Every Tuesday you will receive an e-mail with a survey link. You will receive the results of the analysis by e-mail.
Sentiment analysis now also available as a podcast
You can listen to or download the sentiment analysis directly from this page.
Of course, it's also available on the usual podcast platforms Spotify, iTunes, Podcaster, Amazon, Google, where you can subscribe to it.
Method
Investors with bullish expectations are long, investors with bearish short. Cost prices and imbalances can be deduced in particular from the changes. Often the sentiment index functions as a counter-indicator because there is no potential demand, but this does not fit in every market situation.
Joachim Goldberg
For more than 30 years, Joachim Goldberg has been dealing with the interaction of people and markets. But it was not until he discovered the psychological influences on the financial markets that the graduate banker and former currency trader thought he had come close to what drives and moves the world of finance.
Deutsche Börse 
