I thought I would put the daily dax data into the wave chart, to see if it said anything interesting........
The most recent complete downwave (820) saw an increase in supply, when compared to the recent downwaves, and more importantly the length and duration of the wave.
Following that the next decent upwave (409) saw demand reduce (buyers exhausted...), and in response price closed below the previous pivot (breakdown).
Looks like a change in trend may occur on the daily chart if price cannot get back above that last pivot low (820-circled in red), and is a short candidate if price attempts to regain those lines above and fails.....
