I’ve changed my large scale thinking on the DAX. Originally, was counting up an impulse from a possible large triangle that had wave ‘e’ of the triangle at the low of 2011. That had a nice converging look to it but problems with the internal counts of the triangle. Now setting a corrective low at the 2009 low, which makes sense as that is when the central banks went into overdrive, and working an impulsive count up from it.
On the following monthly chart, I have set a channel across wave [i], the deepest section of [ii], and wave [iv] as an attempt to solve for the ultimate high in the future.
I’ve been staring at the move from the February 2016 low and still am uncertain where exactly this is in the development of wave [v]. Like the S&P 500, I don’t know if wave (iii) of [v] has been set yet. It certainly makes sense that the DAX is slowing as it nears the April 2015 high. I have added typical wave [i] to [v] measurements on the chart.
I still am working on DAX and expect to add at least one weekly chart to this post.