DAX - Schnell !!

The above chart snapshot of the german stock index shows it has been in a steady downward drift well enclosed in a downward sloping channel since April 2015. Looking closer you will see that each down leg within the channel consumes about 8-11 days whereas the upswing to the top of the channel consumes longer. Further each upswing ends with a exhaustion gap-up action marked by blue arrows.

The last downswing too has consumed about 8 days and now we are in the upswing phase with 2-3 days having passed by (coinciding with the possibility of final greek bailout settlement).
Watch if the index is able to retrace in faster time its last downswing - meaning we have about 3-4 days to take out the 5100 approx. levels to confirm a turnaround in the trend.

This chart should also help understand that while the index started falling from April 2015, its only a month or so now that the Greek problem is being shredded on the media all over the world. Would you be more likely to believe the early discounting theory of the markets now?