Dax has built several nested 1-2 legs. I am expecting wave (2) to unfold as an expanded flat and touch resistance at 12674. So price would have bounced from this level down three times. This would support the bearish stance. Stop-loss for this kind of sell trade is about wave ii (above 12810). If this analysis comes true we can expect a very sharp drop of the DAX. Even worse than the -4%? We will see.