Mr. Dax is going to be the first mover compared with other indices ( S&P 500 and Dow Jones). I think we are in the middle of a correction wave 4 of higher wave degree, as you can see in the chart above:
The high at 13.525 was wave 3 (green in square brackets). Since then, we are in a very complex correction pattern, which may end at 10.500 points or even deeper. Now, we are in wave C of C of 4 – an impulsive structure downwards.
When looking at the structure compared with indicators, I’m expecting a movement up to complete wave 4 (blue in brackets). If so, we then have the chance to get in in the yellow circle. But this, we have to decide later, because there is a small chance, that the Dax has ended the correction pattern already. The yellow circle is the sore point for the next movements.
The chances for deeper courses are higher at the moment, so I am expecting that the green wave 4 will last several months before completing. If that happens, we then will get a perfect entry point for a very long longtrade with potential of several thousand points!
Please note, that the yellow box in the chart is provisionally and is only serving us as orientation.
Updates with more precision will follow.
Maybe you are right. Let's see if it will be a wave 4 or a turn around.