Over the past 12-15 months, the majority of global stock markets have been in a down trend, creating a series of lower highs and lower lows. German stocks peaked about 6 weeks ahead of the S&P 500 last year and is considered by some to be a global trend leader, which in this case could prompt a domino effect.
The DAX index remains inside of long-term rising channel (A), a trend that remains in play with higher lows and higher highs. Last April the DAX hit the top of rising channel (A) and then peaked early last month. That started a series of lower highs and lower lows.
The DAX seems to have influenced key markets around the world ever since, as many global markets have taken on “look-alike” patterns.
A couple of weeks ago the DAX hit dual resistance at (1) and could be reversing its 60/90-day trend.
I'd keep a close eye on this leader right now due to its leadership/domino potential impact.