Update of DAX analysis: the index moved in a closed range and it has stayed above the 11750 so far. This is a good sign. At this stage, I am not sure if the last impulse can be labelled as a wave 1 or wave 3; in the last case the 161.8% projection of wave 1 from the end of wave 2 would yield an expected rise up to the 12070 level. I have not changed my trading plan. I will check the evolution in the following days to decide whether I need to modify my strategy or not.