Update of DAX analysis: In the graph I explain my view of the current wave count situation as far as the big picture: we are most likely riding the C wave as part of the 4th Wave of the major long index movement. I identify key support and resistance lines that must be considered for clues on the index movement in the next days. I am currently neutral on this index. I will most likely short the index if one of the key support lines is breached. Likewise, I will buy the index if one of the resistance lines is pierced.