DAX all charts. Could take a new high or stop for a creation of a down trend. At the very edge right now but I am a pessimist.

DAX month

Very close to the 2011 top intraday.

DAX week

Double top close Friday. The rising 8 MA positive longer term. The trend from the bottom could be a complete 5 waves uptrend with just an extension pointing to a stop below the top at the intraday monthly chart above.

DAX day.

Looks like the beginning of a top. The uptrend is overdone   and over bought. Feels like start looking for long term short positions or sell.

DAX 2 hour.

Does not look like a new leg on upside will come right now. Needs at least one day to show what the aim is, up or down.

CONCLUSION NOW. DAX is typical for other European indexes which use to follow DOW to much in December. FTSE looks more or less exactly the same. Since all main indexes will move together in the big picture and these 2 heavy weight indexes for Europe have recently got long term bad fundamental outlook's I think that this might be the right time to think of investing in short long term positions and sell the stocks.I do not see a drop before the new year but if DAX continues sideways without taking the top I would be more and more inclined to go short.