German DAX is recovering in a bigger, three-wave manner from the 11262 low, with price now particularly unfolding sub-wave C) of B. Sub-wave C) is a motive wave and consist out of five legs. That said, once all five legs area fully visible and the stock market reaches potential resistance/turning point area near the 12400/12475 region, that is when bulls may temporarily slow down, and bears can take over.

A confirmation that the trend is turning lower would be a break below the lower EW channel line.

German DAX, 4h