Really a bad week for the DAX, that broke the 12K mark and has been hovering below, and regained the level just on the futures market helped by Wall Street recupering ground in the final hours. Technically the DAX has broken the bearish flag on the daily chart. Hovever volatility is showing signs of calming down so next I expect the index to re-enter in the flag and even attempt a (false) breakout up to the 50% Fibonacci retracement in 12650 area.The other option is a raise to the 12450 zone before capitulating. The 50 days Moving average already cut the 100DMA and is approaching the 200 DMA. The eventual cut would sign the start of a bear market. First level to watch is the 12090 mark to give a boost up. I have been advising for short positions since DAX made a double top on the daily. We all know the rest. I stay bearish for the long term taking advantage of the pulls up. Mark the right levels!