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I assume that the DAX has turned down to start a long decline in line with S&P and FTSE. But there is an alternate wave count shown above. May be the decline is wave (c) of a small correction in the uptrend. This is possible because the previous rally is in five waves [(i),(ii),(iii),(iv),(v)]. In this scenario wave (c) will end near 13200, the DAX will then start a new rally in five waves.
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