The $DAX Says, “Untergehen”

Unlike the US indices, which show a sloppy, corrective decline beginning in late November, the German $DAX has gifted us with a beautiful impulse wave. And impulse waves never stand alone (unless they are the last leg of a flat, which this is probably not).

And furthermore, it has then gifted us with a far more obvious 3-wave bounce to the expected 50-61.8% retracement of the prior decline. I also believe that its version of the “B-Wave Thesis” places it in an expanding triangle, and it’s quite possible for the 1st and 2nd waves of a big 5-wave decline for minor (green) C to have already been put in. If this is the case, a precipitous selloff should follow.

DAX


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