DAX on road to below 2009 low of 3695?


The DAX by breaking below  6908 today confirms a major correction is due! Most likely appears all the way below its 09 low of 3695 over the next year or 2 before its long term trend turns up again!

Looking from the 07 high we see a clear 5 wave count to the 09 bottom.

The detail of the weekly pivot -1 to -2 is shown below.

Of interest is that the state of decay of the DAX is further advanced than that of US markets.

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