DAX very much has overextended the expected pullback to the upside. We have seen a strong 3-wave pullback this was analyzed however unlike analyzed this pullback didn't stop at the 12200-12300 area and overextended. Nevertheless the bigger short setup remains in tact and at these current levels around 12500-12400 would be another good risk to reward point. Further we can see divergence in the RSI. Germany's Economic Data remains very weak with the car manufacturing & financial sector suffering and cutting back staff. Please note should we go over the 12600 level this short setup becomes invalid. Nothing is put in stones, so managed risk is key.