DAX is quite interesting lately…. as we have seen in a lot of European markets we have seen a large rally since 2011 without any kind of pullbacks, the same happends now in SPX.

However it looks like DAX and other European markets a lot weaker lately than the US , which is hitting all time highs, but DAX / FTSE is not.

So from my point of view with DAX gaining 100% from the 2011 lows hitting 10.000 a major pivot spot it looks like DAX has topped out. We have major bearish divergences on weekly chart + it formed an ending diagonal which usually is near a major pivot top.

So if i’m right about DAX and many European markets we should have seen the highs and the largest correction since the 2011 shoudl be underway. It might be 10-20% on DAX so be prepared for some violent months ahead possible.