My original post on the breakdown in Germany's DAX can be found here. It's worth revisiting as price is now retesting the neckline of the head and shoulders topping pattern. These lines are not hard levels. The pattern is not negated technically, until price rallies above the high of the right shoulder. The point is that even if price moves back above the neckline, that is not necessarily a signal of an impending rally.
For me, the chart continues to add a bearish piece to the larger puzzle and given the significance of the country in question, it's not to be ignored.
u ever check out hedgeye?