The trendline on the monthly has been broken after the massive H&S, finally confirming it. If the support at the black line is kept broken after the monthly closed, we will face the real free-fall, eventually going down to 9100 regions in short-term (talking about next 120 days).
From there we have 2 options within the next couple of years:
1. Further downfall driven by bearish sentiment to 7500 levels, which would result in a "medium" kind of capitulation and depression. Basically a classic cycle. 2. Return to above 10.000, forming another, even larger-scale H&S which would extend the duration until the 7500 level actually happens (with room to fall further down below).
In any way, we are going to face a very bearish closing market cycle, with a lot of "blood on the streets" and world-wide economically turmoil and uncertainty.
Be aware that the DAX is a great indicator for the state of the world-economy as Germany is heavily dependent on exports, so other indexes might follow, based on the state and focus of the underlying economy.
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