In my projection I assume that the DAX Index will have a weak recover until may before entering the next corrective move. The recover can be explained with seasonal data (ifo-index is still in positive zone).
But in the longer run the bullmarket is over. The top has been at 13.600 points and I don´t expect it to be regained in 2019 (neither in 2020). Since beginning 2018 we´ve entered the bearmarket.
With political problems in Germany and in the EU, industrial problems (concerning the automobiles and subcontractors), a currency that is weaking (against USD), a money policy that is at its limits, I can´t imagine a positive scenario for the next future.
This and the technical analysis guide me to the conclucion that the german (and europan) equities will have a hard time.
For my projection I used EW-waves in combination with fib retracement and trend lines.
This is no trading advice.
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DAX is entering the next target zone (end of wave 3). At approx 12.000 points (more or less) it should turn and enter the wave 4, which shall have its turning point above 11.400 Points (turning point of wave 1), probably this will be the fib retracement 61.8%.