Dax clearly failed on its cylinder resistance and retraced heavily crossing the cylinder mid-line. Last rebound is weak and created a wedge. Failure out of the wedge will mean a retest of the latest low (9440) followed by further downside to 8900
Clean breakout above its cylinder resistance (2013/2015 blue resistance) beginning of 2015 to reach its ATH in April 2015. Ever since the market has been declining underneath a new cylinder resistance. The daily trend argues for a retest of the low 9000s which would correspond to the pink long term cylinder support (2000/2016 support). 8800/9000 zone is critical...
VIX has been hammered in the last 7 weeks and is trading too low for the global environment. It is technically hard to chart but a spike to 25 is highly possible within the next 2 months. Anyway, can't hurt going long so low
rounding top formation since end 2014. It appears the next leg down to 1800 might have started. Final target could be low 1500 (bottom of the orange cylinder) by mid/end 2017 after another potential rebound of 1800.